Each auctioneer shall post for display and describe at the beginning of each auction the conditions of the auction sale.
The conditions must indicate: [1999, c. 146, §5 (NEW).]
1.Sold "as is." Whether the property is sold "as is";
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2.Highest bidder acknowledged. Whether the highest bidder at the completion of the sale will be acknowledged by the auctioneer;
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3.Reserve. Whether the auction is with reserve or without reserve and the acceptable manner of bids;
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4.Absentee bids. Whether absentee bids are allowed;
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5.Sales tax. Sales tax requirements;
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6.Auctioneer or consignor bidding. Whether or not the auctioneer or consignor reserves the right to bid;
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7.Uniform Commercial Code. A statement that Title 11, section 2-328 applies to this auction sale;
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8.Statement of buyer's premium. A statement of the buyer's premium and any other charges to the bidders or any other persons in attendance; and
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9.Title and address. The title and address of the board.
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SECTION HISTORY
1999, c. 146, §5 (NEW).
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