Summary

This document details prohibited acts, assessment of civil penalties, and denial, suspension, or revocation of auctioneer licenses. It outlines violations and potential penalties in accordance with various legal codes. It covers themes like misrepresentation, false advertising, and financial responsibility.

Full Transcript

**85B-8. Prohibited acts; assessment of civil penalty; denial, suspension, or revocation of license.** a. The following shall be grounds for the assessment of a civil penalty in accordance with G.S. 85B-3.1(b) or the denial, suspension, or revocation of an auctioneer, auctioneer apprentice...

**85B-8. Prohibited acts; assessment of civil penalty; denial, suspension, or revocation of license.** a. The following shall be grounds for the assessment of a civil penalty in accordance with G.S. 85B-3.1(b) or the denial, suspension, or revocation of an auctioneer, auctioneer apprentice, or auction firm license: 1. Any violation of this Chapter or any violation of a rule or regulation duly adopted by the Commission. 2. A continued and flagrant course of misrepresentation or making false promises, either by the licensee, an employee of the licensee, or by someone acting on behalf of and with the licensee\'s consent. 3. Any failure to account for or to pay over within a reasonable time, not to exceed 30 days, funds belonging to another which have come into the licensee\'s possession through an auction sale. 4. Any false, misleading, or untruthful advertising. 5. Any act of conduct in connection with a sales transaction which demonstrates bad faith or dishonesty. 6. Knowingly using false bidders, cappers or pullers, or knowingly making a material false statement or representation. 7. Commingling the funds or property of a client with the licensee\'s own or failing to maintain and deposit in a trust or escrow account in a federally insured depository institution or a trust institution authorized to do business in this State funds received for another person through sale at auction. 8. Failure to make the required contribution to the Fund. 9. The commission or conviction of a crime that is punishable as a felony offense under the laws of North Carolina or the laws of the jurisdiction where committed or convicted, or the commission of any act involving fraud or moral turpitude. 10. Failure to properly make any disclosures or to provide documents or information required by this Chapter or by the Commission. 11. A demonstrated lack of financial responsibility. b. through (d) Repealed by Session Laws 1973, c. 1195, s. 5. \(f) A person whose license has been denied, suspended, or revoked may not apply in that person\'s name or in any other manner within the period during which the order of denial, suspension, or revocation is in effect, and no firm, partnership, or corporation in which any person has a substantial interest or exercises management responsibility or control may be licensed during the period. (1973, c. 552, s. 8; c. 1195, ss. 4, 5; c. 1331, s. 3; 1975, c. 648, s. 6; 1983, c. 603, s. 6; 1989, c. 732, s. 5; 1991 (Reg. Sess., 1992), c. 819, s. 21; 1999-142, s. 7; 2005-330, s. 7; 2017-25, s. 1(e).)

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