Section 19-2C-1 - DefinitionsFor the purposes of this article:
(a) "Absolute auction" means the sale of real or personal property at auction whereby every item offered from the block is sold to the highest bidder without reserve and without the requirements of a minimum bid or other conditions which limit the sale other than to the highest bidder.(b) "Auctioneer" means a person who sells goods or real estate at public auction for another on commission or for other compensation.(c) "Commissioner" means the Commissioner of Agriculture of West Virginia.(d) "Department" means the West Virginia Department of Agriculture.(e) "Escrow account" means a separate custodial or trust fund account maintained by the auctioneer.(f) "Estate auction" means the sale at auction of property of a specified deceased person or the property of a specified living person's estate. Estate auctions may contain property other than that of the specified living or deceased person. However, the inclusion of additional property must be included in all advertising and auction announcements.(g) "In this state" means that an auction satisfies one of the following criteria: (1) The auctioneer performed the auction within the borders of the State of West Virginia;(2) The auctioneer is selling items for a person located in the State of West Virginia;(3) The auctioneer is auctioning real or personal property located in the State of West Virginia;(4) The auctioneer delivers purchased property to a location in the State of West Virginia; or(5) The auctioneer is otherwise subject to the laws, including taxation authority, of the State of West Virginia.(h) "Public auction" or "auction" means any public sale of real or personal property in any manner, whether in-person, via written offers or bids, or online, when offers or bids are made by prospective purchasers and the property sold to the highest bidder.Amended by 2019 Acts, ch. 37 (HB 2982), eff. 6/7/2019.Amended by 2014 Acts, ch. 16 (HB 4410), eff. 6/6/2014.