§ 5-58-2 - Auctioneer's and apprentice's bond. - Rhode Island Statutes

SECTION 5-58-2

   § 5-58-2  Auctioneer's and apprentice'sbond. – Every auctioneer, upon approval of application and prior to issuance of alicense or an apprentice permit, shall deliver and file with the department ofbusiness regulation a surety company bond in favor of the people of the stateof Rhode Island in the principle asum not exceeding ten thousand dollars($10,000) nor less than two thousand dollars ($2,000), at the discretion of thedirector; and payable to any party injured under the terms of the bond. Thebond does not limit or impact any right of recovery available pursuant to lawnor is the amount of the bond relevant in determining the amount of damage orother relief to which any claimant shall be entitled.