HB23 Alabama 2014 Session

Sponsors

Session

Regular Session 2014

Title

Auctions, required to report certain transactions, Sec. 34-4-55 added; Sec. 34-4-7 am'd.

Description

<p class="bill_description"> Under existing law, the owner of an auction business or business of auctioneering is not required to maintain a record of all goods sold at auction for more than $100</p><p class="bill_description"> This bill would add Section 34-4-55 to Chapter 4 of Title 34 of the Code of Alabama 1975, to require the owner of an auction business or business of auctioneering to maintain a record of all goods sold at auction for more than $100, to make available to the appropriate law enforcement agency a record of the transactions, and would further provide that the records shall be a correct copy of the entries made of the goods sold at auction</p><p class="bill_description"> This bill would amend Section 34-11-7 of the Code of Alabama 1975, to exempt an owner who fails to maintain a record pursuant to Section 44-4-55 of the Code of Alabama 1975, from criminal penalties</p><p class="bill_entitled_an_act"> Relating to auctions; to add Section 34-4-55 to Chapter 4 of Title 34 of the Code of Alabama 1975; to require the owner of an auction business or business of auctioneering to maintain a record of all goods sold at auction for more than $100; to make available to the appropriate law enforcement agency a record of the transactions; to further provide that the records shall be a correct copy of the entries made of the goods sold at auction; and to amend Section 34-4-7, Code of Alabama 1975, to exempt an owner who violates Section 34-4-55, Code of Alabama 1975, from criminal penalties. </p>

Subjects

Auctions and Auctioneers