(1) Every auctioneer licensed under this chapter shall maintain a definite place of business in the Commonwealth, except that a nonresident holding a valid Kentucky auctioneer license is not required to maintain an active place of business in the Commonwealth if a place of business is maintained in the nonresident's state.
(2) Every auction house operator licensed under this chapter shall maintain a definite place of business in the Commonwealth, and shall erect and maintain a sign in a conspicuous place on the premises at or near the outside entrance to all fixed locations. The sign shall be written in clear and legible letters of not less than two (2) inches in height, and shall contain the name and license number of the auction house operator, and the name of the auction house, if different than the name of the operator. The sign shall be placed so that it can easily be observed and read by anyone entering the auction house.
(3) All claims or disputes of auctions conducted in the Commonwealth of Kentucky and auctions of real or personal property located in the Commonwealth of Kentucky shall be adjudicated by the courts of this state.