(3) |
The
auction company shall be responsible for maintaining for a period of three
years from each auction:
(a) |
An executed
contract, which shall include:
1. |
The name(s),
and address(es), telephone number(s) and signature(s) of the seller(s) of the
property offered; |
2. |
The name(s),
addresses(es), telephone number(s) and signature(s) of the auctioneer in
charge of the sale; |
3. |
The date of
execution; |
4. |
The proposed date and
place that the auction is to be held; |
5. |
Terms of compensation; |
6. |
Date of proposed settlement. |
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(b) |
A closing statement, which
shall include:
1. |
The name(s) and address(es)
of the seller(s) of the property offered; |
2. |
The price at which the property
sold; |
3. |
The date and place of said
auction; |
4. |
The date the proceeds
were delivered to said owner; |
5. |
Signature(s) of the seller(s); and |
6. |
Lists of items sold.
(These records shall be subject to inspection, upon request by
the Commission or its representative.)
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