Procedure when purchaser fails to pay

(1) If a person bidding at the public auction fails to pay the amount due, at the time of sale, or within the time period allowed by the treasurer, the treasurer shall award the certificate of option for treasurer's deed to the next highest bidder from the public auction who timely pays the amount due from bidding to the treasurer.

(2) In a public auction conducted by means of the internet or other electronic medium, if a person bidding fails to pay the amount due at the time of sale, or within the time period allowed by the treasurer, the treasurer shall award the certificate of option for treasurer's deed to the next highest bidder from the public auction who timely pays the amount due from bidding to the treasurer.

(3) The treasurer may prohibit a person who fails to pay the amount due from bidding on sales under this article 11.5 for up to five years.