Senate Bill No. 747 amends existing laws regarding sheriff auctions, specifically addressing the procedures for selling goods, chattels, and lands through online auction marketplaces. The bill introduces new notice requirements for online auctions, mandating that the written notice of sale includes details such as the Internet address for bidding, the date of the sale, and the time when bidding opens. It also allows sheriffs to utilize online auction platforms while ensuring that no buyer's premium is charged to buyers. Additionally, the bill updates statutory language to be gender-neutral and modifies certain provisions related to the collection of payments and fees for online auction marketplaces.

The bill prohibits sheriffs, appraisers, and online auction marketplace employees from purchasing the property being auctioned, deeming any such purchases fraudulent and void. It requires that a nonelectronic option be available for bidders and allows online auction marketplaces to set reasonable terms of service. The bill also stipulates that any fees incurred by the online auction marketplace should not exceed $425 per confirmed sale. An emergency clause is included, allowing the act to take effect immediately upon passage and approval.

Statutes affected:
Sub Committee OR Policy Committee Recommendations (House) Policy Committee Recommendation: 12-757, 12-765