Coverage. (a) Except as provided in subsection (b), no individual may act as an auctioneer and no person may operate an auction company without obtaining and having in full force and effect a valid license issued by the commission in accordance with this chapter.

1. (b) The requirements of this article do not apply to:

   1. (1) An auction of goods or real estate conducted exclusively by individuals who personally own such goods or real estate and who did not acquire such goods or real estate for resale.
   2. (2) An auction conducted by or under the direction of any public authority.
   3. (3) An auction conducted pursuant to any judicial order or to the settlement of a decedent's estate.

   4. (4) A sale conducted by or on behalf of any political party, church, charitable corporation, or association if the individual conducting the sale receives no compensation and does not, by advertising or otherwise, hold himself or herself out as being available to engage in the sale of goods or real estate at auction.

      As added by Acts 1977, P.L.270, SEC.1. Amended by P.L.8-1993, SEC.374; P.L.59-2014, SEC.3.