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2003 SESSION

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SB 761 Dept. of Professional & Occupational Reg; Auctioneers Board.

Introduced by: William C. Wampler, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED: (all summaries)

Department of Professional and Occupational Regulation; Auctioneers Board. Prohibits the use of advertisements containing false, misleading, or deceptive statements, with respect to types or conditions of merchandise offered at auction, why merchandise is being sold, who has ownership, where the merchandise was obtained, or the terms and conditions of the auction and sale. The bill also provides that if an auctioneer advertises an auction sale of real property as "absolute," all lots included in the sale must meet that criteria. "Absolute auction" is defined as an auction where at the time of the auction sale the real or personal property to be sold will pass to the highest bidder regardless of the amount of the highest and last bid.


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