37-14-18. Deposit of auction receipts into separate auction proceeds account. Any money that an auction cashier receives on behalf of a client from an auction sale shall be deposited in a separate account maintained for auction sale proceeds only. Source: SL 1993, ch 299, §1; SL 1998, ch 242, §17.
37-14-19. Transfer of auction receipts to client–Time limit. Any money that an auction cashier receives on behalf of a client from an auction sale shall be given to the client within twenty working days of the auction sale. This section does not apply to any bad check or if there is a prior written agreement […]
37-14-2. Auction sale defined. “Auction sale,” as used in this chapter means the offering for sale or selling of personal property to the highest bidder or offering for sale or selling of personal property at a high price and then offering the personal property at successive lower prices until a buyer is secured. Source: SL […]
37-14-20. Application of deposit and transfer requirements. Sections 37-14-18 and 37-14-19 do not apply to any livestock auction agency licensed pursuant to chapter 40-15 or to any real estate sale. Source: SL 1993, ch 299, §3.
37-14-21. Time for taking possession of property after sale–Reversion of ownership of unclaimed property–Forfeiture of payment–Exceptions. Except as otherwise agreed to in writing by the purchaser and seller, or unless otherwise provided for by advertised or announced terms at the auction premises on the day of the sale, if the purchaser of any property at […]
37-14-4. Farm sales, judicial sales and closing out sales exempt. The provisions of §§37-14-2 to 37-14-5, inclusive, do not extend to the sale at public auction of livestock, farm machinery, or farm produce or any other item commonly sold at a farm sale, to any auction sale held under authority of or under the supervision […]
37-14-5. Requirements of chapter. Any requirement under the provisions of §§37-14-2 to 37-14-5, inclusive, is in addition to and not in lieu of any other state or local license as required by statute or ordinance. Source: SL 1955, ch 233, §9; SDC Supp 1960, §54.0511; SL 1998, ch 242, §4.
