Indiana § 25-6.1-1-3 Definitions

Indiana Statutes

§ 25-6.1-1-3 — Definitions

Indiana § 25-6.1-1-3

Title 25PROFESSIONS AND OCCUPATIONS

Art. 6.1AUCTIONEERS AND AUCTIONS

Ch. 1Short Title and Definitions

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Ind. Code § 25-6.1-1-3 (2026).

Text

As used in this article:
"Auction" means a sale transaction conducted by means of oral or
written exchanges between an auctioneer and the members of the
auctioneer's audience, which exchanges consist of a series of
invitations for offers for the purchase of goods or real estate made by
the auctioneer and offers to purchase made by members of the audience
and culminate in the acceptance by the auctioneer of the highest or
most favorable offer made by a member of the participating audience.
"Auction company" means any person or persons who, as a part of
its business, arranges, manages, sponsors, advertises, or carries out
auctions.
"Auctioneer" means an individual who is engaged in, or who by
advertising or otherwise holds the individual out as being available to
engage in, the calling for, 

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As used in this article:
"Auction" means a sale transaction conducted by means of oral or
written exchanges between an auctioneer and the members of the
auctioneer's audience, which exchanges consist of a series of
invitations for offers for the purchase of goods or real estate made by
the auctioneer and offers to purchase made by members of the audience
and culminate in the acceptance by the auctioneer of the highest or
most favorable offer made by a member of the participating audience.
"Auction company" means any person or persons who, as a part of
its business, arranges, manages, sponsors, advertises, or carries out
auctions.
"Auctioneer" means an individual who is engaged in, or who by
advertising or otherwise holds the individual out as being available to
engage in, the calling for, the recognition of, and the acceptance of
offers for the purchase of goods or real estate at an auction.
"Commission" means the Indiana auctioneer commission.
"Goods" means any goods, wares, chattels, merchandise, or other
personal property, including domestic animals and farm products.
"Licensee" means any person licensed under this article and, in the
case of an auction company, includes the person required to obtain a
license for such auction company.
"Organization" means a corporation, a limited liability company, a
partnership, a trust (specifically including a business trust), a firm, an
association, or any other form of business enterprise which is owned by
two (2) or more individuals.
"Person" means an organization or an individual.
"Real estate" means any right, title, or interest in real property,
including fixtures.
"Licensing agency" means the Indiana professional licensing agency
established by IC 25-1-5-3.
As added by Acts 1977, P.L.270, SEC.1. Amended by Acts
1980, P.L.163, SEC.2; Acts 1981, P.L.222, SEC.35; P.L.132-1984,
SEC.14; P.L.214-1993, SEC.13; P.L.1-2006, SEC.422; P.L.59-2014,
SEC.1.