RSA 311-B:1 · Definitions

311-B:1 Definitions. –
In this chapter:
I. "Auction" means the sale of real or personal property, or both, in which the sale price of the property offered is increased by competitive bids until the highest accepted bidder becomes the purchaser.
II. "Auctioneer" means a person who engages in, or who by advertising or otherwise holds himself or herself out as being available to engage in, the solicitation or the acceptance of competitive bids for the purchase of real or personal property, or both, at auction, or otherwise engages in auctioneering.
III. "Auctioneering" means the business or act of selling for another real, personal, or mixed property by auction for compensation by fee, commission, or other exchange of value.
IV. "Authorized business organization" means any entity organized for gain or profit and carrying on any business activity within the state of New Hampshire which is:
(a) A corporation or business association having at least one officer holding a valid license issued by the office of professional licensure and certification;
(b) A partnership in which at least one partner holds a valid license issued by the office;
(c) A limited liability company in which the managing member holds a valid license issued by the office;
(d) A sole proprietorship or sole-shareholder corporation in which the sole proprietor or sole shareholder holds a valid license issued by the office; or
(e) A trust in which at least one trustee holds a valid license issued by the office.
V. "Board" means the state board of auctioneers established under RSA 311-B:2.
Source. 1969, 469:1. 2010, 291:1, eff. Jan. 1, 2011. 2024, 327:178, eff. July 1, 2024.