SB 0518 Creates State Board of Auctioneers to regulate auctioneers
LR Number:0545S.02I Fiscal Note:0545-02
Committee:Financial and Governmental Organization
Last Action:02/26/01 - Second Read and Referred S Financial & Governmental, Journal page:S333
Organization, Veterans' Affairs & Elections Committee
Effective Date:August 28, 2001
Full Bill Text | All Actions | Available Summaries | Senate Home Page | List of 2001 Senate Bills
Current Bill Summary

SB 518 - This act creates new procedures for the licensing of auctioneers. Current law provides for the licensing of auctioneers by counties. This act creates a five-member State Board of Auctioneers within the Professional Registration Division of Economic Development which oversees the examination and licensing for auction related occupations, including; auctioneer, auction facility owner and apprentice auctioneer.

The Board will collect fees to be deposited in the State Board of Auctioneers Fund for administrative purposes. The Board will annually collect fifty dollars from each applicant or renewal licensee to fund the Auctioneers Education, Research and Recovery Fund, which is a subaccount of the State Board of Auctioneers Fund. This subaccount will be used to assist individuals who have received a judgement against a licensee.