§ 75C-4. Bidding procedures. - North Carolina Statutes

§75C‑4.  Bidding procedures.

When bids are solicited fromexhibitors for the licensing of a first run motion picture within the State,then:

(a)        The invitation tobid shall specify (i) the number and length of runs for which the bid is beingsolicited, whether it is a first, second or subsequent run, and the geographicarea for each run; (ii) the names of all exhibitors who are being individuallysolicited; (iii) the date and hour the invitation to bid expires; and (iv) thetime and location, including the address, where the bids will be opened, whichshall be within the State. The invitation to bid may contain additional termsor conditions not inconsistent with the provisions of this Chapter.

(b)        All bids shall besubmitted in writing and shall be opened at the same time and in the presenceof exhibitors, or their agents, who  submitted bids and who are present at suchtime. Bids may be opened at the scheduled time notwithstanding the absence ofexhibitors entitled to appear at such time.

(c)        After being opened,bids shall be subject to examination by exhibitors, or their agents, whosubmitted bids. Within seven business days after a bid is accepted, thedistributor shall notify in writing each exhibitor who submitted a bid of theterms of the accepted bid and the name of the winning bidder.

(d)        Once bids aresolicited and no bids are received or all bids are withdrawn, the distributorshall license the picture by re‑bids or negotiation; provided thatnothing in this Chapter shall be interpreted to require any distributor toaccept any bid. (1979, c. 463, s. 1.)