11 AAC 67.045 - Auction procedure

The following procedures cover the conduct of public oral outcry auctions for the sale or lease of state land:

(1) Only qualified and registered bidders may submit bids. However, a qualified person may acquire land through an agent who is registered to bid at the auction, if the agent presents a power of attorney or other notarized authorization of agency. An agent may represent only one principal during each auction and may not also participate in his own behalf.

(2) A bid deposit may be required in order to register to bid. If the bidder is successful, the deposit will be applied against the purchase price or the first lease payment, as appropriate. If the bidder is not successful, the deposit will be refunded.

(3) A bidder may withdraw a bid at any time before the hammer falls. If a bid deposit was required and if the withdrawn bid would otherwise have been the winning bid, the bidder forfeits the deposit.

(4) If a bid is made while the hammer is falling, the auctioneer shall decide whether the bid is timely.

(5) The auctioneer may request confirmation of a bid if a bidder's conduct is confusing or distracting, or if it is clear that the bidder does not hear or understand the call or bid.

(6) The auctioneer may withdraw any parcel from the auction before the hammer falls.

(7) A bidder or spectator may be ejected from the auction if, in the judgment of the auctioneer, his conduct conflicts with the orderly proceeding of the auction.

Notes

11 AAC 67.045

Eff. 5/13/79, Register 70

Authority:AS 38.04.900

AS 38.05.020

AS 38.05.055

AS 38.05.075