HB 460 (BR 1504) - S. Overly, J. Hoover, L. Belcher
AN ACT relating to auctioneer services.
Create a new section of KRS Chapter 426 to permit a court upon the request of a creditor or mortgage holder to secure the services of an auctioneer licensed in this state to conduct the public sale, fix the auctioneer's fee, and order the fee to be paid out of the proceeds of the sale; include caps for the licensed auctioneer's fee that do not include expenses and fees incurred by the master commissioner for the sale under KRS 31A.010(4); require the master commissioner to employ a licensed auctioneer to handle the sale upon terms and conditions acceptable to the creditor or mortgage holder; require the sale to be conducted on the site of real property to be sold if the public sale is conducted by a licensed auctioneer; permit a master commissioner who is also a licensed auctioneer to recover fees for acting in his or her capacity as master or special commissioner under KRS 31A.010(4), but prohibit the master commissioner from collecting any extra fee for acting as an auctioneer; clarify that nothing contained in this section waives any provision of KRS 426.160, 426.200, or 426.560.
Feb 11-introduced in House
Feb 14-to Banking & Insurance (H)
Feb 15-posting waived
Feb 16-reported favorably, 1st reading, to Consent Calendar
Feb 17-2nd reading, to Rules; posted for passage in the Consent Orders of the Day for Friday, February 18, 2011
Feb 18-3rd reading, passed 96-0; received in Senate
Feb 23-to Licensing, Occupations, & Administrative Regulations (S)
Mar 1-reported favorably, 1st reading, to Consent Calendar
Mar 2-2nd reading, to Rules
Mar 3-posted for passage in the Consent Orders of the Day for Thursday, March 3, 2011; 3rd reading, passed 37-0; received in House; enrolled, signed by each presiding officer; delivered to Governor
Mar 15-signed by Governor