New Hampshire Revised Statutes 311-B:1 – Definitions
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In this chapter:
I. “Auction” means the sale of real or personal property, or both, in which the sale price of the property offered is increased by competitive bids until the highest accepted bidder becomes the purchaser.
II. “Auctioneer” means a person who engages in, or who by advertising or otherwise holds himself or herself out as being available to engage in, the solicitation or the acceptance of competitive bids for the purchase of real or personal property, or both, at auction, or otherwise engages in auctioneering.
III. “Auctioneering” means the business or act of selling for another real, personal, or mixed property by auction for compensation by fee, commission, or other exchange of value.
IV. “Authorized business organization” means any entity organized for gain or profit and carrying on any business activity within the state of New Hampshire which is:
(a) A corporation or business association having at least one officer holding a valid license issued by the board;
(b) A partnership in which at least one partner holds a valid license issued by the board;
(c) A limited liability company in which the managing member holds a valid license issued by the board;
(d) A sole proprietorship or sole-shareholder corporation in which the sole proprietor or sole shareholder holds a valid license issued by the board; or
(e) A trust in which at least one trustee holds a valid license issued by the board.
V. “Board” means the state board of auctioneers established under N.H. Rev. Stat. § 311-B:2.
I. “Auction” means the sale of real or personal property, or both, in which the sale price of the property offered is increased by competitive bids until the highest accepted bidder becomes the purchaser.
Terms Used In New Hampshire Revised Statutes 311-B:1
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- person: may extend and be applied to bodies corporate and politic as well as to individuals. See New Hampshire Revised Statutes 21:9
- Personal property: All property that is not real property.
- state: when applied to different parts of the United States, may extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall include said district and territories. See New Hampshire Revised Statutes 21:4
- Trustee: A person or institution holding and administering property in trust.
II. “Auctioneer” means a person who engages in, or who by advertising or otherwise holds himself or herself out as being available to engage in, the solicitation or the acceptance of competitive bids for the purchase of real or personal property, or both, at auction, or otherwise engages in auctioneering.
III. “Auctioneering” means the business or act of selling for another real, personal, or mixed property by auction for compensation by fee, commission, or other exchange of value.
IV. “Authorized business organization” means any entity organized for gain or profit and carrying on any business activity within the state of New Hampshire which is:
(a) A corporation or business association having at least one officer holding a valid license issued by the board;
(b) A partnership in which at least one partner holds a valid license issued by the board;
(c) A limited liability company in which the managing member holds a valid license issued by the board;
(d) A sole proprietorship or sole-shareholder corporation in which the sole proprietor or sole shareholder holds a valid license issued by the board; or
(e) A trust in which at least one trustee holds a valid license issued by the board.
V. “Board” means the state board of auctioneers established under N.H. Rev. Stat. § 311-B:2.