59.1-259 - Bidding procedures. - Virginia Statutes

§ 59.1-259. Bidding procedures.

If bids are solicited from exhibitors for the licensing of a motion picturewithin the Commonwealth, then:

1. The invitation to bid shall specify (i) whether the run for which the bidis being solicited is a first, second or subsequent run; (ii) whether the runis an exclusive or nonexclusive run; (iii) the geographic area for the run;(iv) the names of all exhibitors who are being solicited; (v) the date andhour the invitation to bid expires; and (vi) the time, date and the location,including the address, where the bids will be opened, which shall be withinthe Commonwealth or the District of Columbia or Prince Georges and MontgomeryCounties, Maryland.

2. All bids shall be submitted in writing and shall be opened at the sametime and in the presence of those exhibitors, or their agents, who submittedbids and are present at such time.

3. Immediately upon being opened, the bids shall be subject to examination byexhibitors, or their agents, who submitted bids, and who are present at theopening. Within ten business days after the bids are opened, the distributorshall notify each exhibitor who submitted a bid either the name of thewinning bidder or the fact that none of the bids was acceptable.

4. Once bids are solicited, the distributor shall license the picture only bybidding and may solicit rebids if he does not accept any of the submittedbids.

(1978, c. 764.)