Iowa Admin. Code r. 761-480.1

Current through Register Vol. 47, No. 5, September 4, 2024
Rule 761-480.1 - Definitions

The definitions in Iowa Code section 321.1 and subsection 321.89(1) apply to this chapter. In addition:

"Abandoned vehicle," when used in Iowa Code section 321.89 and this chapter of rules, means only those vehicles subject to registration as referred to in Iowa Code section 321.18.

"Bidder registry" means a record of all persons who have registered to bid at a public auction.

"Public auction," when used in Iowa Code section 321.89, means an auction open to the general public. A public auction may be by electronic means, by sealed bid, or a conventional oral auction. The highest bidder is awarded the property. When the auction is a conventional oral auction, bidders shall register and bring the bid deposit with them to the auction on the day and at the location and time specified for the sale, if a bid deposit is required. Bidders bid against one another until bidding stops.

Iowa Admin. Code r. 761-480.1

ARC 9048B, IAB 9/8/10, effective 10/13/10
Amended by IAB November 4, 2020/Volume XLIII, Number 10, effective 12/9/2020