Ohio Code § 4707.32
Ohio Code § 4707.32. Reproduced from the official Ohio Revised Code, with a citation summary, verification link, and related provisions.
§ 4707.32.
(A) A person who asserts that the person has been aggrieved solely by the actions of
an auction firm that resulted in actual and direct losses to the aggrieved person
may seek recovery under the auction firm's financial responsibility that is required
under section 4707.074 of the Revised Code . The director of agriculture shall adopt rules under section 4707.19 of the Revised Code that do all of the following: (1) Establish procedures for filing a claim against an auction firm's financial responsibility; (2) Establish procedures that provide for the equitable disbursement of money for multiple
claims against the auction firm that resulted from the same circumstances; (3) Establish procedures for providing notice to the department of agriculture from a
person seeking recovery under this division; (4) Limit an aggrieved person's recovery to the actual and direct losses caused by the
auction firm. (B) A person who asserts that the person has been aggrieved by the actions of both an
auction firm and a licensed auctioneer related to an auction that resulted in actual
and direct losses to the aggrieved person may file a cause of action with a court
of competent jurisdiction claiming that a violation of this chapter or rules adopted
under it resulted in the actual and direct losses. The court shall determine if there was a violation of this chapter or rules adopted
under it that resulted in those losses. If the court determines that the auction firm, the licensed auctioneer, or both
violated this chapter or rules adopted under it and that the violation resulted in
the aggrieved person's actual and direct losses, the court shall determine the percentage
of culpability, in relation to one hundred per cent, that is attributable to each
party to the action from whom the complainant seeks recovery. If the court finds that the percentage of culpability that is attributable to the
licensed auctioneer is greater than zero, the aggrieved person may initiate a claim
against the auction recovery fund in accordance with sections 4707.26 to 4707.31 of the Revised Code to recover that percentage of the actual and direct losses sustained by the person. If the court finds that the percentage of culpability that is attributable to the
auction firm is greater than zero, the aggrieved person may recover that percentage
of the actual and direct losses sustained by the person under the auction firm's financial
responsibility that is required under section 4707.074 of the Revised Code . The total aggregate amount that is paid to the aggrieved person from the auction recovery
fund and the auction firm's financial responsibility shall not exceed the actual and
direct losses sustained by the person. In addition, the total aggregate amount that is paid from the auction recovery fund
shall not exceed the dollar limitations established in section 4707.29 of the Revised Code , and the total aggregate amount that is paid from the auction firm's financial responsibility
shall not exceed the dollar limitations established in section 4707.074 of the Revised Code . (C) If a person files a cause of action under division (B) of this section, the person
immediately shall send written notice to the department of agriculture.
Source: official Ohio text · Last verified 2026-08-27
At a glance
- Citation: Ohio Revised Code § 4707.32
- Jurisdiction: Ohio
- Code: Ohio Revised Code
- Text: transcribed from the official source (verify below)
Verify the text
Statute text is transcribed from the official Ohio Revised Code. Confirm it against the primary source before relying on it:
Not legal advice. Verify against the official source and consult a licensed Ohio attorney.
Common questions
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What subject does Ohio Revised Code § 4707.32 address?
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Is Ohio Revised Code § 4707.32 still in force?
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