§ 42-18116 — Payment; resale or recovery on reneged bid; processing fee

A. The purchaser of a tax lien shall pay the purchase price in cash at a time the county treasurer determines but within fifteen days after the close of the sale.

B. If the purchaser fails to pay the amount due:

1. The county treasurer shall resell the tax lien if the sale has not been closed.

2. If the sale has been closed, the treasurer may either:

(a) Recover the amount bid by civil action in a court of competent jurisdiction.

(b) Prohibit the purchaser who failed to pay the amount due from purchasing tax liens from any county in this state for a period of not more than one year.

C. The purchaser shall pay a processing fee of not more than $10 per tax lien. The treasurer shall deposit monies collected pursuant to this subsection in the taxpayers' information fund established by section 11-495.