32 §299. Conditions of auction sales - Maine Statutes

Title 32: PROFESSIONS AND OCCUPATIONS

Chapter 5-B: AUCTIONEERS HEADING: PL 1999, C. 146, §5 (NEW)

Subchapter 3: LICENSING QUALIFICATIONS HEADING: PL 1999, C. 146, §5 (NEW)

§299. Conditions of auction sales

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).