98RS SB261


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SB 261 (BR 1640) - E. Rose, C. Borders, D. Boswell, P. Herron Jr, A. Robinson

     AN ACT relating to auctioneers and auction house operators.
     Amend KRS Chapter 330 to increase the compensation of board members from $100 per day to $12,000 per year; omit the knowledge of bulk sales law for license applicants; require applicants to have a high school diploma or equivalent; allow licensees to put their licenses in escrow for inactive periods; require new license posting and filing rules; provide for replacement of lost licenses; require reciprocal license applicants to pay the same fee as Kentucky applicants are charged, if more than $100; add the intentional dissemination of misleading information as a license violation; give the board the option of issuing a written admonishment in lieu of a hearing for minor violations; increase the maximum liability of the auctioneer's education, research, and recovery fund from $30,000 to $50,000 for each claim against a licensee with a lifetime maximum of $50,000 per licensee; require the board to keep a minimum of $500,000 in the fund for recovery and guaranty purposes; delete obsolete subsections.

     Feb 3-introduced in Senate
     Feb 4-to Licensing and Occupations (S)
     Feb 26-reported favorably, 1st reading, to Calendar
     Feb 27-2nd reading, to Rules
     Mar 2-posted for passage in the Regular Orders of the Day for March 4, 1998
     Mar 4-3rd reading, passed 33-2
     Mar 5-received in House
     Mar 6-to Licensing and Occupations (H)
     Mar 16-posted in committee
     Mar 18-reported favorably, 1st reading, to Calendar
     Mar 19-2nd reading, to Rules
     Mar 23-posted for passage in the Regular Orders of the Day for March 24, 1998
     Mar 24-3rd reading, passed 89-5
     Mar 25-received in Senate; enrolled, signed by each presiding officer, delivered to Governor
     Apr 3-signed by Governor

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