Except as provided in ORS 698.650, this section establishes requirements for auction sales, auctioneers and auction marts. The requirements under this section are in addition to any provisions relating to auctions under ORS 72.3280. A person who violates any requirement under this section commits an unlawful practice as described in ORS 646.608 (1)(v). The requirements under this section are subject to enforcement and penalty as provided under ORS 646.605 to 646.652. The following requirements are established for auction sales, auctioneers and auction marts as described:
(1) Any advertisement of an auction sale shall include the name of the auctioneer who will conduct the auction sale or the person responsible for the conduct of the auction sale.
(2) An auctioneer and the operator of an auction mart shall not use any method of bidding at an auction that will allow property to be purchased in an undisclosed manner on behalf of the auctioneer or auction mart operator.
(3) An auctioneer or auction mart operator shall not use any method of bidding at an auction that allows the auctioneer or auction mart operator to avoid selling any property offered for sale at auction.
(4) An auctioneer or auction mart operator shall not employ or use another person to act as a bidder or buyer at the auction on behalf of the auctioneer or operator of the auction mart.
(5) Any time an auctioneer or auction mart operator receives money that is owed to clients of the auctioneer or auction mart operator from the sale of the client’s goods, the auctioneer or auction mart operator must comply with all of the following if the money is not immediately paid to the client at the time of auction:
(a) Any such money maintained in an account must be kept in a trust account where the money is held in trust for the client and identified and accounted for separately in a manner that will allow the money to be distinguished from the moneys of the auctioneer or operator that are subject to the debts of the auctioneer or operator. The account required by this paragraph must be separate from any account used by the auctioneer or operator for personal reasons or other business reasons.
(b) The client has a right to an accounting from the auctioneer or auction mart operator for any money that the auctioneer or auction mart operator received in payment for the client’s goods that is not paid to the client.
(c) The auctioneer or auction mart operator must pay the client the money owed to the client before the end of 21 calendar days after the auction at which the client’s goods were sold unless the parties have mutually agreed to another time of payment in writing. [1965 c.313 §4; 1983 c.404 §2; 1985 c.822 §1]Section: Previous 698.585 698.590 698.600 698.610 698.620 698.630 698.635 698.640 698.650 698.710 698.720 698.730 698.740 698.750 698.755 Next
Last modified: August 7, 2008