EXTEND FUNDS DEADLINE FOR AUCTIONEERS.

View NCGA Bill Details2019-2020 Session
House Bill 300 (Public) Filed Thursday, March 7, 2019
AN ACT TO EXTEND THE AMOUNT OF TIME THAT AUCTIONEERS HAVE TO ACCOUNT FOR OR PAY OVER FUNDS FROM AN AUCTION SALE.
Intro. by Speciale.

Status: Ref To Com On Rules and Operations of the Senate (Senate action) (May 2 2019)
H 300

Bill Summaries:

  • Summary date: Mar 7 2019 - More information

    Amends GS 85B-8(a)(3), which requires assessment of a civil penalty or the denial, suspension, or revocation of an auctioneer, auctioneer apprentice, or auction firm license for failure to account for or to pay over funds from an auction sale within a reasonable time. Current law requires the accounting or payment be made within 30 days. Now allows a 90-day window for auctioneers to account for or to pay over funds from an auction sale for items purchased on extension that require third-party authentication.


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