Certain acts prohibited.
Effective Aug 30, 202350 SDR 19Source: 5 SDR 12, effective August 14, 1978; 12 SDR 151, 12 SDR 155, effective July 1, 1986; 15 SDR 100, effective January 10, 1989; transferred from § 20:56:12:24, 20 SDR 18, effective August 16, 1993; 37 SDR 112, effective December 8, 2010; 47 SDR 37, effective October 5, 2020 ; 50 SDR 19, effective August 30, 2023 . | General Authority: SDCL 36-21A-89 ( 5 ). | Law Implemented: SDCL 36-21A-47 , 36-21A-68 .
Prohibited acts by an auctioneer include the following:
- (1) Knowingly receiving or using a rafter bid, puffing of a bid, or any type of bid rigging such as utilizing the services of a shill;
- (2) Knowingly permitting an unlicensed individual to call or take bids in an auction sale; or
- (3) Knowingly misleading or creating a false impression among the seller, buyer, or bidders in the advertising, conduct, and closing of an auction.
Source: 5 SDR 12, effective August 14, 1978; 12 SDR 151, 12 SDR 155, effective July 1, 1986; 15 SDR 100, effective January 10, 1989; transferred from § 20:56:12:24, 20 SDR 18, effective August 16, 1993; 37 SDR 112, effective December 8, 2010; 47 SDR 37, effective October 5, 2020 ; 50 SDR 19, effective August 30, 2023 .
General Authority: SDCL 36-21A-89 ( 5 ).
Law Implemented: SDCL 36-21A-47 , 36-21A-68 .
Prior versions effective: 2020-10-05, 2010-12-08.