§ 73-4-1. Short title
This chapter shall be known and may be cited as the “Mississippi Auctioneers License Act.”
§ 73-4-11. Officers of commission; executive director
At the meeting to be held each January, the commission shall elect from its membership a chairman and a vice chairman. Each officer shall serve a term of one (1) year and shall not vacate office until a successor is elected. The chairman shall preside at all meetings of the commission. The vice chairman shall […]
§ 73-4-13. Powers and duties of commission
The commission is empowered to: Administer and enforce the provisions of this chapter. Promulgate such rules and regulations and prescribe such forms as are necessary for the administration and the effective and efficient enforcement of this chapter. Issue, suspend and revoke licenses in accordance with this chapter. Provide for the filing and approval of surety […]
§ 73-4-15. Mississippi Auctioneer Licensure Fund
All fees and other monies collected or received by the commission under this chapter shall be deposited into a special fund which is hereby created in the State Treasury, to be known as the “Mississippi Auctioneer Licensure Fund.” Unexpended amounts remaining in such special fund at the end of a fiscal year shall not lapse […]
§ 73-4-17. Classification of licenses; qualifications of applicants for licenses; examinations; examination fee; surety bond generally; additional requirements for auction firm license; issuance, term, and renewal of licenses; license fees; record keeping requirements
There shall be two (2) classes of auctioneers’ licenses, which shall be auctioneer and auction firm. All applicants for a license under this chapter shall possess the following minimum qualifications: Applicants shall have attained the age of eighteen (18) years by the issuance date of the license. Applicants shall have obtained at a minimum a […]
§ 73-4-19. Procedure for submission and processing of complaints against licensees; remedies for violations by licensees; judicial review of disciplinary actions
The commission may, upon its own motion or upon the complaint in writing of any person, provided the complaint and any evidence presented with it establishes a prima facie case, hold a hearing and investigate the actions of any auctioneer or auction firm, or any person who holds himself out as an auctioneer or auction […]
§ 73-4-21. Exemption from examination requirement for residents
Any person who has practiced the auctioneering profession in this state and has been a resident of the State of Mississippi for at least two (2) years before July 1, 1995, may apply for an auctioneer’s license hereunder without taking the examination as set forth in Section 73-4-17. The requirements for such an application are […]
§ 73-4-23. Exemption from examination requirements for nonresidents
Any auctioneer who is licensed in a state that (a) has requirements equal to the requirements of this chapter, (b) has requirements that have been approved by the commission, after a review of such state’s licensing law, and (c) has entered into a reciprocal licensing agreement with the State of Mississippi through such state’s regulatory […]
§ 73-4-25. Grounds for disciplinary proceedings against licensees; penalties
The commission may refuse to issue or renew a license, place a licensee on probation or administrative supervision, suspend or revoke any license, or may reprimand or take any other action in relation to a license, including the imposition of a fine not to exceed Five Thousand Dollars ($5,000.00) for each violation upon a licensee, […]
§ 73-4-27. Qualifications for auction firm license; termination or suspension of license; additional requirements
No person or party who is not otherwise exempt from licensure under Section 73-34-5 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 or party holds a currently valid license issued by the commission. […]
§ 73-4-29. Filing of bonds by applicants for licenses; requirements for auctions of factory-built homes
Every person who applies for an auctioneer’s license, as a condition to the granting and the retention thereof, shall file or have on file with the commission, a bond in the amount of Ten Thousand Dollars ($10,000.00). Every person or persons who apply for an auction firm license, as a condition to the granting and […]
§ 73-4-3. Definitions
For the purposes of this chapter, the following words and phrases shall have the meanings ascribed herein, unless the context otherwise requires: “Auction” means a sale transaction conducted by means of oral or written exchanges between an auctioneer and the members of his audience, which exchanges consist of a series of invitations for offers for […]
§ 73-4-31. Form, terms and conditions, and duration of bonds provided under chapter; liability on bonds; cancellation of bonds
The State of Mississippi shall be the obligee under any bond under this chapter. Such bond shall be: Executed by the person seeking the license as principal and by a corporate surety, licensed to do business in this state as a surety; In such form and containing such terms and conditions as the commission prescribes; […]
§ 73-4-33. Procedure for recovery on bonds; exclusivity of remedy
If any licensee fails, or is alleged to have failed, to meet the obligations under this chapter and the rules and regulations promulgated hereunder, the commission shall hold a hearing and determine whether there has been such a failure, determine those persons who are proven claimants under the bond and, if appropriate, distribute the bond […]
§ 73-4-35. Standards governing performance of duties of auctioneers; accounting and payment of monies to owners or consignors of goods involved in auction
In performing the duties of an auctioneer, every auctioneer shall follow all reasonable requests of the owner or consignor of the goods being sold at the auction. Every auctioneer shall perform such auctioneer’s duties so that the highest or most favorable offer made by a member of the audience is accepted, and shall otherwise perform […]
§ 73-4-37. Recordkeeping requirements
Each licensee shall keep and maintain in a safe place for a period of not less than two (2) years complete and correct records and accounts pertaining to such licensee’s licensed activity, including the name and address of the owner or consignor of all goods involved in such activities, a description of such goods, the […]
§ 73-4-39. Requirement of written contract for sale of goods; time period for retention of contract
Except with respect to goods sold through an auction firm, no licensee shall sell goods at an auction until the auctioneer or auction firm involved has first entered into a written contract with the owner or consignor of such goods, which contract sets forth the terms and conditions upon which such auctioneer or auction firm […]
§ 73-4-41. Advertisement of auctions
All advertisements of auctions shall disclose: The auctioneer’s name and the name of the auction firm involved; and Whether the auction is to be absolute or with reserve; and The auctioneer’s or auction firm’s auction license number.
§ 73-4-43. Requirement of license; penalties for unlicensed conduct
An individual may not act as an auctioneer without first having obtained and having in effect the license required under this chapter. Any person, except a licensed auctioneer who shall have become exempt by reason of compliance with the applicable provisions of this chapter, may not operate an auction firm without having obtained and having […]
§ 73-4-45. Penalties for violations of chapter
Any person who violates any provision of this chapter for which a specific penalty is not provided, upon conviction, shall be fined not more than One Thousand Dollars ($1,000.00).