Charity Auction Exemption

(1) An individual or entity may claim an exemption from licensure under T.C.A. § 62-19-103(4) as it relates to auctions on behalf of a political party, church, or charitable corporation or association, provided that any such individual or entity providing auction services shall not be compensated, and 100% of the net proceeds of such sale shall be donated to such political party, church, or charitable organization or association. (2) Any organization registered with the Secretary of State as a charitable corporation as required by T.C.A. § 48-101-504(a), or exempt from the registration requirement pursuant to T.C.A. § 48-101-502, or any organization granted an exemption from taxation pursuant to the provisions of 26 U.S.C. § 501(c)(3) of the Internal Revenue Code shall be considered a charitable corporation or association for the purpose of T.C.A. § 62-19-103(4).