Sec. 1. Coverage. (a) Except as provided in subsection (b), no individual may act as an
auctioneer and no
person may operate an
auction company without obtaining and having in full force and effect a valid license issued by the
commission in accordance with this chapter.
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Terms Used In Indiana Code 25-6.1-3-1
- Auction: means a sale transaction conducted by means of oral or written exchanges between an auctioneer and the members of the auctioneer's audience, which exchanges consist of a series of invitations for offers for the purchase of goods or real estate made by the auctioneer and offers to purchase made by members of the audience and culminate in the acceptance by the auctioneer of the highest or most favorable offer made by a member of the participating audience. See Indiana Code 25-6.1-1-3
- Auctioneer: means an individual who is engaged in, or who by advertising or otherwise holds the individual out as being available to engage in, the calling for, the recognition of, and the acceptance of offers for the purchase of goods or real estate at an auction. See Indiana Code 25-6.1-1-3
- Commission: means the Indiana auctioneer commission. See Indiana Code 25-6.1-1-3
- 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.
- Decedent: A deceased person.
- Goods: means any goods, wares, chattels, merchandise, or other personal property, including domestic animals and farm products. See Indiana Code 25-6.1-1-3
- Person: means an organization or an individual. See Indiana Code 25-6.1-1-3
- Real estate: means any right, title, or interest in real property, including fixtures. See Indiana Code 25-6.1-1-3
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
(1) An auction of goods or real estate conducted exclusively by individuals who personally own such goods or real estate and who did not acquire such goods or real estate for resale.
(2) An auction conducted by or under the direction of any public authority.
(3) An auction conducted pursuant to any judicial order or to the settlement of a decedent‘s estate.
(4) A sale conducted by or on behalf of any political party, church, charitable corporation, or association if the individual conducting the sale receives no compensation and does not, by advertising or otherwise, hold himself or herself out as being available to engage in the sale of goods or real estate at auction.
As added by Acts 1977, P.L.270, SEC.1. Amended by P.L.8-1993, SEC.374; P.L.59-2014, SEC.3.
