§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:
[PL 1999, c. 146, §5 (NEW).]
1.
Sold "as is."
Whether the property is sold "as is";
[PL 1999, c. 146, §5 (NEW).]
2.
Highest bidder acknowledged.
Whether the highest bidder at the completion of the sale will be acknowledged by the auctioneer;
[PL 1999, c. 146, §5 (NEW).]
3.
Reserve.
Whether the auction is with reserve or without reserve and the acceptable manner of bids;
[PL 1999, c. 146, §5 (NEW).]
4.
Absentee bids.
Whether absentee bids are allowed;
[PL 1999, c. 146, §5 (NEW).]
5.
Sales tax.
Sales tax requirements;
[PL 1999, c. 146, §5 (NEW).]
6.
Auctioneer or consignor bidding.
Whether or not the auctioneer or consignor reserves the right to bid;
[PL 1999, c. 146, §5 (NEW).]
7.
Uniform Commercial Code.
A statement that Title 11, section 2‑328 applies to this auction sale;
[PL 1999, c. 146, §5 (NEW).]
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
[PL 1999, c. 146, §5 (NEW).]
9.
Title and address.
The title and address of the board.
[PL 1999, c. 146, §5 (NEW).]
SECTION HISTORY
PL 1999, c. 146, §5 (NEW).