Use Of Auctioneer By Government Body In Indiana
Added January 17th, 2014 · Updated April 5th, 2016
Annotated Indiana Code
Title 5. State and Local Administration
Article 22. Public Purchasing (Second Version)
Chapter 22. Disposition of Surplus Personal Property by a Governmental Body
5-22-22-4 Property exceeding certain value -- Subject to being auctioned.
Sec. 4. (a) If the property to be sold is:
(1) one (1) item, with an estimated value of one thousand dollars ($1,000) or more; or
(2) more than one (1) item, with an estimated total value of five thousand dollars ($5,000) or more;
the purchasing agency may engage an auctioneer licensed under IC 25-6.1 to advertise the sale and conduct a public auction.
(b) The advertising by an auctioneer under this section must include a detailed description of the property to be sold.
(c) The purchasing agency shall pay an auctioneer who conducts a sale under this section from the gross proceeds of the sale received before other expenses and liens are paid.
Cite as Ind. Code Ann. § 5-22-22-4 Annotated Indiana Code
Title 5. State and Local Administration
Article 22. Public Purchasing (Second Version)
Chapter 22. Disposition of Surplus Personal Property by a Governmental Body
5-22-22-4 Property exceeding certain value -- Subject to being auctioned.
Sec. 4. (a) If the property to be sold is:
(1) one (1) item, with an estimated value of one thousand dollars ($1,000) or more; or
(2) more than one (1) item, with an estimated total value of five thousand dollars ($5,000) or more;
the purchasing agency may engage an auctioneer licensed under IC 25-6.1 to advertise the sale and conduct a public auction.
(b) The advertising by an auctioneer under this section must include a detailed description of the property to be sold.
(c) The purchasing agency shall pay an auctioneer who conducts a sale under this section from the gross proceeds of the sale received before other expenses and liens are paid.
Cite as Ind. Code Ann. § 5-22-22-4 Annotated Indiana Code
Laws change and requirements vary by state. This is general information and may be out of date. Check the official state sources, or ask a lawyer, before relying on it.
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