RSA 358-G:1 · Definitions

358-G:1 Definitions. – As used in this chapter:

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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, pursuant to RSA 311-B.

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II.

"Collusive bidding" means a practice whereby the auctioneer, the seller, or anyone acting on behalf of the auctioneer or seller, causes, employs any person to engage in, or knowingly allows, fictitious bidding during an auction for the purpose of bidding up the price of any goods in competition with bona fide bidders, or for the purpose of encouraging or enticing bona fide bidders to purchase, or for the purpose of stimulating competitive bidding to purchase. Collusive bidding shall include any use of false bidders, cappers, shills, or by-bidders.

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III.

"Person" means any person defined by RSA 358-A:1, I. Source. 1979, 447:1. 1998, 17:1, eff. Jan. 1, 1999. 2010, 291:13, eff. Jan. 1, 2011.

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