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330.020 Definitions for chapter.
As used in this chapter, unless the context otherwise requires:
(1) "Advertisement" means any written, oral, or electronic communication that:
(a) Offers real or personal property or any combination thereof by or at
auction; or
(b) Promotes, solicits, induces, or offers to conduct an auction or to provide
auction services;
(2) "Apprentice auctioneer" means any person who is employed or supervised,
directly or indirectly, by an auctioneer to deal or engage in any activity in
subsection (6) of this section, excluding the authority to enter into an auction
listing contract or to independently maintain an auction escrow account;
(3) "Auction" means any method of sale, lease, or exchange of real property,
personal property, or any combination thereof, by means of competitively
increasing or decreasing bids. Any sale, lease, or exchange of real property,
personal property, or any combination thereof, advertised or presented in any
way by or at auction, is an auction for the purposes of this chapter;
(4) (a) "Auction house" means any commercial establishment at which personal
property is regularly or customarily offered at auction, or at which
personal property is customarily or regularly deposited and accepted, on
consignment or otherwise, for sale at auction at a fixed location;
(b) "Auction house" does not mean:
1.
Those establishments which limit personal property sold in regard to
Thoroughbred horses or other horses or any interests therein,
including but not limited to horse shares and seasons;
2.
Tobacco and fixed-base livestock markets regulated by the United
States Department of Agriculture; or
3.
Fixed-base motor vehicle markets regulated by the Kentucky Motor
Vehicle Commission pursuant to KRS Chapter 190;
(5) "Auction house operator" means the individual principally or ultimately
responsible for the operation of an auction house, or in whose principal interest
the establishment is operated. The auction house operator is responsible for
retaining a licensed auctioneer to call bids at all auctions at the auction house;
(6) "Auctioneer" or "principal auctioneer" means any person who offers, solicits,
negotiates, or attempts to offer, solicit, or negotiate an auction listing contract,
sale, lease, or exchange of real property, personal property, or any other item
of value, or any combination thereof, which may lawfully be kept or offered for
sale, lease, or exchange, or any combination thereof, by or at auction, or who
offers the same at auction and who is allowed to supervise and accepts the
responsibility of sponsoring one (1) or more apprentice auctioneers;
(7) "Board" means the Board of Auctioneers;
(8) "Limited livestock auctioneer" means any auctioneer whose professional
activities are limited to the calling of bids at the sale of livestock at fixed-based
livestock yards operating under the control and guidance of the United States
Department of Agriculture;
(9) "Personal property" means any tangible or intangible property, goods, services,
chattels, merchandise, commodities, or any item of value in any form or type,
other than real property, which may be lawfully kept or offered for sale,
exchange, or lease;
(10) "Person" means any individual, association, partnership, corporation, limited
liability company, or other business entity, including any officer, director, or
employee thereof;
(11) "Real property" means real estate in its ordinary meaning, including but not
limited to timeshares, options, leaseholds, and other interests less than
leaseholds of any form or type which may be lawfully kept or offered for sale,
exchange, or lease; and
(12) "Sealed bid auction" means a sealed bidding procedure which incorporates or
allows for any competitive increasing or decreasing of bids after the opening of
sealed bids. A "sealed bid auction" is an auction subject to the provisions of
this chapter.
Effective:June 25, 2009
History: Amended 2009 Ky. Acts ch. 70, sec. 2, effective June 25, 2009. -Amended 1998 Ky. Acts ch. 285, sec. 1, effective July 15, 1998. -- Amended
1992 Ky. Acts ch. 344, sec. 1, effective July 14, 1992. -- Amended 1990 Ky.
Acts ch. 170, sec. 1, effective July 13, 1990. -- Amended 1978 Ky. Acts ch. 80,
sec. 1, effective June 17, 1978. -- Created 1962 Ky. Acts ch. 251, sec. 2.
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