§ 1-339.13A. Public sale of timber by sealed bid; appraisal; bid procedure. - North Carolina Statutes - USA Laws Searching

Statutes > North Carolina Statutes > Chapter 1 - Civil Procedure. > § 1-339.13A. Public sale of timber by sealed bid; appraisal; bid procedure.

§ 1-339.13A. Public sale of timber by sealed bid; appraisal; bid procedure.

§ 1‑339.13A.  Publicsale of timber by sealed bid; appraisal; bid procedure.

(a)        When a sale oftimber by sealed bid is ordered, the person holding the sale, before givingnotice of the sale, shall:

(1)        Obtain one or moreappraisals of the timber to be sold;

(2)        Determine the placeat which and the manner and form in which sealed bids should be submitted;

(3)        Determine the firstdate on which sealed bids will be accepted, which shall not be less than fivedays after the date on which the notice of sale is first published pursuant toG.S. 1‑339.17; and

(4)        Determine the date,time, and place at which sealed bids will be opened.

(b)        Each appraisalobtained pursuant to subsection (a) of this section shall be made by aregistered professional forester or other person qualified by training andexperience to appraise the timber to be sold. Copies of all appraisals obtainedpursuant to this section shall be included in the report required under G.S. 1‑339.24.A person conducting an appraisal pursuant to this section, including apartnership, corporation, company, or other business of the appraiser, may notsubmit a bid on the timber which is the subject of the appraisal. An appraisalconducted pursuant to this section shall remain confidential until theappraisal is filed with the report of sale pursuant to G.S. 1‑339.24. Thecontents of the appraisal shall not be divulged by the appraiser to any personother than the person holding the sale nor may the appraiser conduct anappraisal of the timber for any other person until after the sale is confirmed.

(c)        All sealed bidsreceived on or after the first date set for submitting bids and, at or beforethe time set for opening the bids, shall be opened publicly at that time at theplace set for doing so. If the minimum number of bids is received and there isonly one highest bid, that bid shall be announced at that time; the highestbidder is the purchaser, and all bidders shall immediately be notified of thatfact. If the minimum number of bids is not received, or if two or more bids inthe same amount are the highest bids, that fact shall be announced at thattime, and all bidders shall immediately be notified of that fact; the personholding the sale shall then obtain a new order of sale. (1997‑83,s. 6.)