Auction Company

Administrative Code (Code Book)

An auction company means a person who manages an auction or who has primary responsibility for handling sales proceeds, down payments, earnest money deposits or other trust funds received by an auctioneer, the person's principal or any other person at or as a result of an auction.

An auction company representative means:

(a) if the auction company is an individual, that individual.

(b) if the auction company is a partnership, association or corporation, any partner of the partnership, officer or director of the association or officer or director of the corporation.

No person may act as an auction company unless the person is registered as an auction company or as an auctioneer under s. 480.08, Wis. Stats.