The provisions of this chapter shall not extend to the sale at public auction of livestock, farm machinery or farm produce, used homestead goods, or other items commonly sold at farm or homestead sales, or to auction sales by individuals of new merchandise, which was assessed personal property tax in the state or is replacement stock of merchandise inventory which was assessed personal property tax, and to auction sales under a mortgage foreclosure or under the direction of a court or court officers of the sales as may be required by law. The owner of the personal property specified in this section may furnish the person conducting the public auction with a statement that the property set forth in the statement has been assessed as personal property in the state or that it has been purchased as replacement for property that has been assessed, and the possession of such a statement shall absolve the person or persons to whom it is given from all liability under the provisions of this chapter.
(1993 Code, § 112.09)