La. Admin. Code tit. 46 § III-1001
Absolute Auction-an auction which will result in a change of ownership regardless of price.
Applicant-any person applying for a license under this Chapter.
Apprentice-any person who is employed, either directly or indirectly, by an auctioneer to deal or engage in auctions or who is studying to become an auctioneer.
Auction-the sale by competitive bid of any property which sale consists of a series of invitations for offers to purchase property made by the auctioneer and offers to purchase made by members of the audience culminating in the acceptance by the auctioneer of the highest or most favorable bid. The term "auction" or "sale at auction" includes but is not limited to the following:
1. live auctions;
2. online auctions;
3. real-time auctions;
4. extended auctions;
5. any similar such events as may be devised with the development of technology; and
6. any combination of the foregoing.
Auction House, Auction Company, and Auction Business-synonymous and interchangeable terms and mean any entity, whether a sole proprietorship, partnership, limited liability partnership, limited liability company, corporation, or any other legal entity defined by the board, which arranges, manages, sponsors, advertises, or carries out two or more auctions within any twelve-month period and which regularly represents that goods are sold at auction. However, a public livestock auction business which exclusively auctions livestock and which is regulated as a livestock market by the Louisiana Board of Animal Health pursuant to R.S. 3:2091 et seq. shall not be defined as an auction business for purposes of this Chapter. An auction house includes those businesses defined herein which conduct business on an internet-based platform.
1. Auction houses which conduct business solely through internet-based platforms are not required to employ a licensed auctioneer to call the auction. Any live or simulcast auctions are required to employ a licensed auctioneer to call the live or real-time auction.
2. Auction houses which conduct any auction through an internet-based platform are responsible for the actions of the platform.
Auctioneer-any person who, for another, with or without receiving or collecting a fee, commission, or other valuable consideration, sells or offers to sell property at an auction.
Board-the Louisiana Auctioneers Licensing Board created as created in R.S. 37:3111.
Department-the Office of the Governor.
Licensee-any person or business holding a license under this Chapter.
Person-an individual, partnership, company, corporation, association, or group however organized.
Property-any property, tangible and intangible, movable or immovable, real, personal, or mixed.
Secured Party-a person holding a security interest in a property, whether movable or immovable.
La. Admin. Code tit. 46, § III-1001