In an absolute auction, the seller or anyone acting upon behalf of the seller may not bid at the absolute auction or otherwise participate in the bidding process. The real estate being offered for sale at an absolute auction may not be withdrawn after an auctioneer calls for bids unless no bid is made within a reasonable time.

Source: 37 SDR 112, effective December 8, 2010.

General Authority: SDCL 36-21A-89(7).

Law Implemented: SDCL 36-21A-1 , 36-21A-72 , 36-21A-89.