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The Legislative Service Commission staff updates the Revised Code on an ongoing basis, as it completes its act review of enacted legislation. Updates may be slower during some times of the year, depending on the volume of enacted legislation.

Section 4707.022 | Reserve auction presumed - absentee bidding - agent of owner or consignee.

Ohio Revised Code
/
Title 47 Occupations-Professions
/
Chapter 4707 Auctioneers
 
Effective:
May 6, 2005
Latest Legislation:
Senate Bill 209 - 125th General Assembly
PDF:
Download Authenticated PDF
 

(A) An auction shall be a reserve auction unless explicitly stated otherwise in the contract for the auction and in the terms and conditions governing the auction. For purposes of a reserve auction, there need not be an announcement or indication that the reserve is attained.

(B) A person licensed under this chapter shall not use absentee bidding unless the owner of the real or personal property being sold provides prior written permission to use absentee bidding.

(C) A person licensed under this chapter shall be an agent of the owner or consignee of the real or personal property for purposes of all aspects of the auction.

Available Versions of this Section