State Act
Section 263
Art. 263 – The meetings of the managing committee, for auction or licitation shall be continuous and without interruption, without exception of holidays, inclusive religious ones, until all the items are auctioned. § 1. The auction shall be conducted in the order by which the various lots and items have been listed in the estimate. All those whose licitation prices are the highest shall be awarded to the highest bidder. Only those on which there is no competition or request for auction, shall be reserved for new auction. § 2. Each lot or bid shall be called in a loud and in an audible voice and concluded, with the highest bid, with a previous declaration repeated three times, that the same shall be closed as per express order of the president of the managing committee, after which no further bid or any price shall be accepted. § 3. Once started, the auction can be suspended only by determination of the 72[Government] and in any case, when re-starts, it shall be announced five days in advance. § 4. The award of each lot or item shall be certified by a declaration signed immediately, following the award in the open auction, in terms of the paragraph 1 of article 533 and model No. 13, mentioning at the end of the declaration, the items not awarded, with the indication of the respective numbers. § 5. Only one declaration can be drawn up of the items not auctioned, when they are listed one after the other.