(A) No licensee may conduct an auction in this State without first having a written agreement with the owner of any property to be sold. The agreement shall contain the terms and conditions upon which the licensee received the goods for sale. The licensee shall provide the owner with a signed copy of the agreement and shall keep at least one copy for three years from the date of the agreement. A written agreement is not required for a sale at auction if the sale is made at an auction house or similar place where members of the public are generally offered the opportunity to present goods for sale. Copies of all contracts must be made available to the commission or its designated agent upon request.
(B) A licensee shall maintain accurate records upon receipt of goods for auction and before their sale, which shall include the name and address of the person who employed the licensee to sell the goods at auction and the name and address of the owner of the goods to be sold. These records must be open for inspection by the commission or its designated agent upon request.
(C) A licensee shall have his pocket card license in his possession at each auction he conducts.
HISTORY: 2000 Act No. 318, Section 1.
Editor's Note
Prior Laws:1977 Act No. 111, Section 15; 1993 Act No. 155, Section 12; 1976 Code Section 40-6-150.
Structure South Carolina Code of Laws
Title 40 - Professions and Occupations
Section 40-6-05. Application of Chapter 1; conflicts.
Section 40-6-10. Auctioneers' Commission created; membership and qualifications; compensation.
Section 40-6-50. Administrative support; authority vested in commission; license fees.
Section 40-6-60. Adoption of rules and regulations.
Section 40-6-70. Initiation of investigation of fitness.
Section 40-6-115. Jurisdiction of commission.
Section 40-6-130. Grounds for disciplinary action as basis for denial of licensure.
Section 40-6-140. Prior criminal record as grounds for denial of licensure.
Section 40-6-150. Surrender of license.
Section 40-6-180. Payment of costs and fines.
Section 40-6-190. Confidentiality; privileged communications.
Section 40-6-210. Petition for injunctive relief.
Section 40-6-235. Requirements for license as auction firm.
Section 40-6-240. Term of licenses; renewal; proof of continuing education; lapsed license.
Section 40-6-250. License required.
Section 40-6-260. List of licensees.
Section 40-6-270. Licensing of auctioneers licensed in another state.
Section 40-6-280. "Absolute" auctions.
Section 40-6-310. Estate auction requirements.
Section 40-6-320. Licensing by municipalities prohibited.
Section 40-6-330. Auctioneer Recovery Fund; maintenance and contributions; use of excess funds.
Section 40-6-340. Claims against fund; notification of licensee; investigation.
Section 40-6-360. Limitations on payments from fund.