§ 17-17-308 - Suspension or revocation. - Arkansas Statutes

17-17-308. Suspension or revocation.

The Auctioneer's Licensing Board may impose a civil penalty or suspend or revoke the license of an auctioneer for any of the following causes:

(1) Obtaining a license through false or fraudulent representation;

(2) Pursuing a continued and flagrant course of misrepresentation or making false promises through agents or advertising or otherwise;

(3) Failing to account for or remit within a reasonable time any money belonging to others that comes into his or her possession;

(4) Commingling funds of others with his or her own or failing to keep the funds of others in an escrow or trustee account;

(5) Paying valuable consideration to any person for services performed in violation of this chapter;

(6) Being convicted of a criminal offense involving moral turpitude or a felony in a court of competent jurisdiction of this or any other jurisdiction;

(7) Willfully violating a rule or regulation promulgated by the board;

(8) Failing to enter into a written contract with the seller and to furnish voluntarily to the seller at the time of execution copies of all written instruments prepared by the auctioneer, including the contract;

(9) Any conduct of an auctioneer that demonstrates bad faith, dishonesty, incompetency, untruthfulness, or deceptive practices;

(10) Any other conduct that constitutes improper, fraudulent, or dishonest dealings, including falsely accusing any auctioneer or auction house;

(11) Failing to complete or submit the continuing education requirements as specified by this chapter and the rules and regulations adopted by the board; or

(12) Failing to disclose the buyer's premium in all advertising associated with an auction.