This chapter does not apply to:

(1) A person acting as a receiver, trustee in bankruptcy, guardian, administrator, executor, or other person acting under order of a court;

Terms Used In Tennessee Code 62-19-103

  • Agriculture: means :
    (i) The land, buildings and machinery used in the commercial production of farm products and nursery stock. See Tennessee Code 1-3-105
  • Auction: means a sales transaction conducted by oral, written, or electronic exchange between an auctioneer and members of the audience, consisting of a series of invitations by the auctioneer for offers to members of the audience to purchase goods or real estate, culminating in the acceptance by the auctioneer of the highest or most favorable offer made by a member of the participating audience. See Tennessee Code 62-19-101
  • Auctioneer: means a principal auctioneer, bid caller auctioneer, or public automobile auctioneer. See Tennessee Code 62-19-101
  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Commission: means the Tennessee auctioneer commission. See Tennessee Code 62-19-101
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Goods: means chattels, merchandise, real or personal property, or commodities of any form or type that may lawfully be kept or offered for sale. See Tennessee Code 62-19-101
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • Livestock: means all equine as well as animals that are being raised primarily for use as food or fiber for human utilization or consumption including, but not limited to, cattle, sheep, swine, goats, and poultry. See Tennessee Code 1-3-105
  • Person: includes an individual, association, partnership, corporation, and the officers, directors, and employees of a corporation. See Tennessee Code 62-19-101
  • Personal property: All property that is not real property.
  • Personal property: includes money, goods, chattels, things in action, and evidences of debt. See Tennessee Code 1-3-105
  • Property: includes both personal and real property. See Tennessee Code 1-3-105
  • State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
  • Trustee: A person or institution holding and administering property in trust.
  • United States: includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
  • Year: means a calendar year, unless otherwise expressed. See Tennessee Code 1-3-105
(2) A trustee acting under a trust agreement, deed of trust or will, or a secured party selling collateral after default by a debtor in accordance with title 47, chapter 9;
(3) An auction conducted by or under the direction of a governmental entity or pursuant to a judicial order or decree;
(4) An auction conducted by or on behalf of a political party, church, or charitable corporation or association, if the individual conducting the sale receives no compensation and does not, by advertising or otherwise, hold their self out as available to engage in the sale of goods at auction;
(5) A person performing acts in the regular course of or as an incident to the management of and investment in property owned or leased by the person, if the property was not acquired for the purpose of resale. When a sales tax, as prescribed in title 67, is not levied upon the sale of personal property, there is a presumption that the personal property was purchased for the purpose of resale;
(6) An auction conducted for the sale of livestock sponsored through or in cooperation with the state department of agriculture or the University of Tennessee extension, or both;
(7) An auction sale of tobacco at or for a warehouse operated pursuant to title 43, chapter 19;
(8) A livestock auction sale regulated by the United States department of agriculture packers and stockyards administration, if the sale uses:

(A) The shipper’s proceeds account required by federal regulations; and
(B) An auctioneer licensed under this chapter;
(9) Any fixed price or timed listings that allow bidding on an internet website, but do not constitute a simulcast of a live auction;
(10) An exclusive online auction whose primary business activity is selling nonrepairable or salvage vehicles in this state and holds the appropriate license issued by the Tennessee motor vehicle commission;
(11) An in-person or simulcast auction whose primary business activity is selling nonrepairable or salvage vehicles in this state, and holds the appropriate license issued by the Tennessee motor vehicle commission and that uses a licensed auctioneer; and
(12) An individual who generates less than twenty-five thousand dollars ($25,000) in revenue a calendar year from the sale of property in online auctions.
  Previous section
Next section  
 Chapter 19 Contents