In Indiana, what must be done with auction proceeds?

In Indiana, the auction proceeds must be disbursed according to the auction agreement and state laws because the handling of funds is regulated to protect both sellers and buyers in the auction process. The auctioneer has a fiduciary responsibility to ensure that proceeds are managed properly and that the terms outlined in the auction agreement are followed closely. This encompasses distributing the funds to sellers after the auction has concluded and all terms have been satisfied.

Additionally, state laws often stipulate how these funds should be managed to ensure transparency and accountability, which helps maintain trust in the auction process. This includes adhering to any legal requirements regarding timing and method of payments, further reinforcing the need to handle proceeds correctly as per the established agreement.