Review of application for public auction

(1) As soon as practicable following the receipt of an application for public auction filed by a lawful holder pursuant to section 39-11.5-102, the treasurer shall review the application to determine whether it complies with the requirements of this article 11.5.

(2) If the treasurer determines that the application for public auction complies with the requirements of this article 11.5, the treasurer shall record the application for public auction and the original certificate of purchase, if not previously recorded, with the office of the county clerk and recorder within ten business days following the treasurer's determination.