Texas Occupations Code 1802.002 – Applicability
(a) This chapter does not apply to:
(1) a sale conducted by order of a United States court under Title 11, United States Code;
(2) a sale conducted by an employee of the United States, this state, or a political subdivision of this state in the course and scope of employment;
(3) a sale conducted by a charitable, religious, or civic organization, including an organization having a tax exempt status under Section 501(c), Internal Revenue Code of 1986, or organized as a nonprofit entity, if the person organizing, arranging, or conducting the auction receives no compensation;
(4) a foreclosure auction involving the sale of real property personally conducted by a trustee or substitute trustee under a security instrument;
(5) a foreclosure sale of personal property personally conducted by:
(A) a person who holds a security interest in the property, including a mortgage; or
(B) an employee or agent of a person described by Paragraph (A) acting in the course and scope of employment, if:
(i) the employee or agent is not otherwise engaged in the auction business; and
(ii) all property for sale in the auction is subject to a security agreement;
(6) a sale conducted by sealed bid without the option of increasing or decreasing the amount of a bid;
(7) an auction conducted only for student training purposes as part of a course of study approved by the department;
(8) an auction conducted by a posted stockyard or market agency as defined by the federal Packers and Stockyards Act (7 U.S.C. § 181 et seq.), as amended;
(9) an auction of livestock conducted by a nonprofit livestock trade association chartered in this state, if the auction involves only the sale of livestock owned by members of the trade association;
(10) an auction conducted by a charitable or nonprofit organization chartered in this state, if the auction:
(A) is part of a fair that is organized under state, county, or municipal authority; and
(B) involves only the sale of property owned by the organization’s members;
(11) a sale or auction conducted by an auctioneer while the auctioneer is physically located outside of this state;
(12) a sale of motor vehicles at auction by a person licensed under Chapter 2301 or 2302;
(13) a sale of motor vehicles at auction by a person who holds a wholesale motor vehicle auction general distinguishing number or an independent motor vehicle general distinguishing number issued by the Texas Department of Motor Vehicles; or
(14) an auction of property through the Internet.
(b) This chapter applies to a sealed bid auction.
Terms Used In Texas Occupations Code 1802.002
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
- Personal property: All property that is not real property.
- Property: means real and personal property. See Texas Government Code 311.005
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Trustee: A person or institution holding and administering property in trust.
- United States: includes a department, bureau, or other agency of the United States of America. See Texas Government Code 311.005