201 KAR 11:115.

Auction obligations.

 

      RELATES TO: KRS

324.160

      STATUTORY

AUTHORITY: KRS Chapter 13A

      NECESSITY,

FUNCTION, AND CONFORMITY: To inform and set certain standards for the licensees

and to protect the public.

 

      Section 1. Any

real estate broker who advertises real property at absolute auction is

obligated to the public to sell said property to the highest bona fide bidder

on the day of the auction. (KSREC-15 (Rule 34); 1 Ky.R. 598; eff. 4-9-75.)