§ 85B-3.2 – Criminal history record checks of applicants for licensure.
85B-3.2. Criminal history record checks of applicants for licensure. (a) Definitions. – The following definitions apply in this section: (1) Applicant. – An applicant for initial licensure as an auctioneer, apprentice auctioneer, or auction firm. (2) Criminal history. – A State or federal history of conviction of a crime, whether a misdemeanor or felony, that […]
§ 85B-4 – Licenses required.
85B-4. Licenses required. (a) No person who is not exempt under G.S. 85B-2, shall sell, or offer to sell, goods or real estate at auction in this State or perform any act for which an auction firm license is required unless the person holds a currently valid license issued under this Chapter. (b) No person […]
§ 85B-4.1 – Auctioneer Recovery Fund.
85B-4.1. Auctioneer Recovery Fund. (a) In addition to license fees, upon application for a license or renewal of a license, the Commission may charge the applicant or licensee up to fifty dollars ($50.00) per year to be included in the Fund. (b) The Commission shall maintain at least two hundred thousand dollars ($200,000) in the […]
§ 85B-4.2 – Grounds for payment; notice and application to Commission.
85B-4.2. Grounds for payment; notice and application to Commission. An aggrieved person who has suffered a monetary loss as a direct result of the conversion of funds or property or other fraudulent act or conduct by a licensed auctioneer, apprentice auctioneer, or auction firm shall be eligible to seek compensation from the Fund subject to […]