330.110 License suspension, revocation, and other penalties -- Grounds --
671 words·~3 min read·
/ky/330-110A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Emergency orders and hearings.
(1)The board may suspend for a period up to five
(5)years or revoke the license of any
licensee, or levy fines not to exceed two thousand dollars ($2,000), with a
maximum fine of five thousand dollars ($5,000) per year arising from any single
incident or complaint, against any licensee, or place any licensee on probation for a
period of up to five
(5)years, or require successful passage of any examination
administered by the board, or require successful completion of any course of
auction study or auction seminars designated by the board, or issue a formal
reprimand, or order any combination of the above, for violation by any licensee of
any of the provisions of this chapter, or for any of the following causes:
(a)Obtaining a license through false or fraudulent representation;
(b)Making any substantial misrepresentation;
(c)Pursuing a continued and flagrant course of misrepresentation or intentionally
making false promises or disseminating misleading information through
agents or advertising or otherwise;
(d)Accepting valuable consideration as an apprentice auctioneer for the
performance of any of the acts specified in this chapter, from any person,
except his or her principal auctioneer;
(e)Failing to account for or remit, within a reasonable time, any money belonging
to others that comes into the licensee's possession, commingling funds of
others with the licensee's own funds, or failing to keep the funds of others in
an escrow or trustee account;
(f)Paying valuable consideration to any person for services performed in
violation of this chapter, or procuring, permitting, aiding, or abetting any
unlicensed person acting in violation of any of the provisions of this chapter;
(g)Entering a plea of guilty, an Alford plea, a plea of no contest to, or being
convicted of:
1. Any felony; or
2. A misdemeanor involving theft, deception, fraud, burglary, or violence,
or that relates to the practice of auctioneering; and
the time for appeal has passed or the judgment of conviction has been finally
affirmed on appeal;
(h)Violation of any provision of this chapter or any administrative regulation
promulgated by the board;
(i)Failure to furnish voluntarily at the time of execution, copies of all written
instruments prepared by any licensee to each signatory of the written
instrument;
(j)Any conduct of a licensee which demonstrates bad faith, dishonesty,
incompetence, or untruthfulness;
(k)Any other conduct that constitutes improper, fraudulent, dishonest, or
negligent dealings;
(l)Failure to enter into a binding written auction listing contract with the seller or
with the seller's duly authorized agent prior to advertising, promoting, or
offering any real or personal property by or at auction;
(m)Failure to provide a receipt to all persons consigning personal property with
any licensee for auction;
(n)Failure to establish and maintain, for a minimum of five
(5)years from final
settlement, complete and correct written or electronic records and accounts of
all auction transactions, including:
1. Listing contracts, including the name and address of the seller;
2. Written purchase contracts;
3. Descriptive inventory and final bid amounts of all items or lots offered;
4. Buyer registration records; and
5. Settlement records, including all moneys received and disbursed and
escrow account activity;
(o)Failure of any licensee to deliver within thirty
(30)days any auction-related
information, including but not limited to advertisements, listing contracts,
purchase contracts, clerking records, buyer registration records, settlement
records, escrow account information, license, or any other auction-related
information to the board or the board's designee upon request; or
(p)Failure of a principal auctioneer to provide supervision to his or her apprentice
auctioneers to ensure compliance with this chapter and the administrative
regulations promulgated thereunder.
(2)If any licensee is alleged to have committed a violation that warrants emergency
action, including emergency suspension of the licensee's license, the board may
conduct an emergency hearing in accordance with KRS Chapter 13B as it relates to
emergency orders and emergency hearings. The board shall promulgate
administrative regulations to describe the specific circumstances and allegations
that authorize emergency action.