SENATE FINANCE COMMITTEE SUBSTITUTE FOR

SENATE BILL 57

47th legislature - STATE OF NEW MEXICO - first session, 2005

AN ACT

RELATING TO PROFESSIONAL AND OCCUPATIONAL LICENSES; PROVIDING FOR COMPENSATION OF AUCTIONEERS.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

     Section 1. Section 61-16-1 NMSA 1978 (being Laws 1889, Chapter 95, Section 1, as amended) is amended to read:

     "61-16-1. AUCTIONEERS--PUFFING--FEES.--[Section 1.] It [shall be] is unlawful for any person who [shall sell] sells at public auction any personal property belonging to another:

          A. to bid on any article placed by him at auction; or

          B. employ or in any way allow puffers to bid for him at [any such] an auction [nor shall such auctioneer receive from the owner of the goods auctioneered by him a larger fee than ten per centum of the amount brought by goods sold at public auction when such amount is less than two hundred dollars nor more than eight per centum when such amount exceeds two hundred and is less than five hundred dollars nor more than five per centum when the amount exceeds five hundred dollars]."

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