§ 54.1-600 Definitions
As used in this chapter, unless the context requires a different meaning: “Absolute auction” means an auction where at the time of the auction sale the real or personal property to be sold will pass to the highest bidder regardless of the amount of the highest and last bid. “Auction” means the sale of goods or real estate by means of exchanges between an auctioneer and members of his audience, the exchanges consisting of a series of invitations for offers made by the auctioneer, offers made by members of the audience, and acceptance by the auctioneer of the highest or most favorable offer. “Auction firm” means any corporation, partnership or entity, except a sole proprietorship, performing any of the acts of an auctioneer as defined in this section. “Auctioneer” means any person who conducts or offers to conduct an auction. “Board” means the Auctioneers Board. “Director” means the Director of the Department of Professional and Occupational Regulation. “Goods” means any chattels, merchandise, real or personal property, or commodities of any form or type which may be lawfully kept or offered for sale. “Person” means any natural person, association, partnership, or corporation, and the officers, directors, and employees of a corporation. “Virginia licensed auctioneer” means any auctioneer who meets the requirements for licensure as prescribed by the Board.
History
This law was first created in 1982. The record of its establishment is cataloged in chapter 538 of that year’s edition of “Acts of Assembly,” the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1982 “Acts” aren’t available online. It has been modified 5 times. Those modifications are cataloged by “The Acts of Assembly,” a state publication, by year and chapter. Those modifications that can be read on the General Assembly’s website will be linked accordingly. Those modifications are as follows: in 1983, chapter 522; in 1986, chapter 61; in 1988, chapter 765; in 1991, chapter 299; in 2003, chapter 367.
1982, c. 538, § 54-824.2; 1983, c. 522; 1986, c. 61; 1988, c. 765; 1991, c. 299; 2003, c. 367.