South Dakota Codified Laws 37-14-18. Deposit of auction receipts into separate auction proceeds account
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Any money that an auction cashier receives on behalf of a client from an auction sale shall be deposited in a separate account maintained for auction sale proceeds only.
Terms Used In South Dakota Codified Laws 37-14-18
- Auction sale: as used in this chapter means the offering for sale or selling of personal property to the highest bidder or offering for sale or selling of personal property at a high price and then offering the personal property at successive lower prices until a buyer is secured. See South Dakota Codified Laws 37-14-2
Source: SL 1993, ch 299, § 1; SL 1998, ch 242, § 17.