Kentucky Statutes 330.030 – Auctioneer’s license required — When auction house operator’s license required — When escrow account required
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(1) It is unlawful for any person to advertise or act as an auctioneer or apprentice auctioneer within the Commonwealth, or advertise or act as an auctioneer or apprentice auctioneer of real or personal property located within the Commonwealth, without a license issued by the board.
(2) It is unlawful for any person to advertise or act as a limited livestock auctioneer within the Commonwealth without a license issued by the board.
(3) (a) It is unlawful for any person to advertise or act as an auction house operator within the Commonwealth without a license issued by the board.
(b) An auction house operator shall be a licensed auctioneer or apprentice auctioneer if he or she acts as an auctioneer or apprentice auctioneer. If licensed as an auctioneer, an auction house operator license shall not be required.
(c) If an auction house operator conducts and operates more than one (1) auction house, a license shall be issued for each location, and the initial and renewal fees shall be applicable.
(d) This subsection applies to each co-owner or manager of an auction house who actively participates in the operation of the auction house, but who is not an auctioneer.
(4) (a) Each licensed principal auctioneer or auction house operator who takes possession of money for another in relation to an auction shall maintain at least one (1) escrow account.
(b) If a licensee already maintains an escrow account due to licensure pursuant to KRS Chapter 198B, 324, or 324A, the licensee shall not be required to maintain a second, separate escrow account.
Effective: June 27, 2019
History: Amended 2019 Ky. Acts ch. 118, sec. 2, effective June 27, 2019. — Amended
2015 Ky. Acts ch. 14, sec. 3, effective June 24, 2015. — Amended 2009 Ky. Acts ch.
70, sec. 3, effective June 25, 2009. — Created 1962 Ky. Acts ch. 251, sec. 3.
(2) It is unlawful for any person to advertise or act as a limited livestock auctioneer within the Commonwealth without a license issued by the board.
Terms Used In Kentucky Statutes 330.030
- Apprentice auctioneer: means any person who is employed or supervised, directly or indirectly, by an auctioneer to deal or engage in any activity in subsection (6) of this section, excluding the authority to enter into an auction listing contract or to independently maintain an auction escrow account. See Kentucky Statutes 330.020
- Auction: means any method of sale, lease, or exchange of real property, personal property, or any combination thereof, by means of competitively increasing or decreasing bids. See Kentucky Statutes 330.020
- Auction house: means any fixed-base commercial establishment at which personal property is regularly or customarily offered at auction, or at which personal property is customarily or regularly deposited and accepted, on consignment or otherwise, for sale at auction at a fixed location. See Kentucky Statutes 330.020
- Auction house operator: means the individual principally or ultimately responsible for the operation of an auction house, or in whose principal interest the establishment is operated. See Kentucky Statutes 330.020
- Board: means the Board of Auctioneers. See Kentucky Statutes 330.020
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
- Escrow account: means an account, separate from the auctioneer's individual or office account, in which all money belonging to others is held for the preservation
and guarantee of funds until disbursement to the appropriate party. See Kentucky Statutes 330.020 - Limited livestock auctioneer: means any auctioneer whose professional activities are limited to the calling of bids at the sale of livestock at fixed-based livestock yards operating under the control and guidance of the United States Department of Agriculture. See Kentucky Statutes 330.020
- Livestock: means cattle, sheep, swine, goats, horses, alpacas, llamas, buffaloes, or any other animals of the bovine, ovine, porcine, caprine, equine, or camelid species. See Kentucky Statutes 446.010
(3) (a) It is unlawful for any person to advertise or act as an auction house operator within the Commonwealth without a license issued by the board.
(b) An auction house operator shall be a licensed auctioneer or apprentice auctioneer if he or she acts as an auctioneer or apprentice auctioneer. If licensed as an auctioneer, an auction house operator license shall not be required.
(c) If an auction house operator conducts and operates more than one (1) auction house, a license shall be issued for each location, and the initial and renewal fees shall be applicable.
(d) This subsection applies to each co-owner or manager of an auction house who actively participates in the operation of the auction house, but who is not an auctioneer.
(4) (a) Each licensed principal auctioneer or auction house operator who takes possession of money for another in relation to an auction shall maintain at least one (1) escrow account.
(b) If a licensee already maintains an escrow account due to licensure pursuant to KRS Chapter 198B, 324, or 324A, the licensee shall not be required to maintain a second, separate escrow account.
Effective: June 27, 2019
History: Amended 2019 Ky. Acts ch. 118, sec. 2, effective June 27, 2019. — Amended
2015 Ky. Acts ch. 14, sec. 3, effective June 24, 2015. — Amended 2009 Ky. Acts ch.
70, sec. 3, effective June 25, 2009. — Created 1962 Ky. Acts ch. 251, sec. 3.