Board of Auctioneers

Florida Statutes
Title XXXII. REGULATION OF PROFESSIONS AND OCCUPATIONS
Chapter 468. MISCELLANEOUS PROFESSIONS AND OCCUPATIONS
Part VI. AUCTIONEERS
Current through 2013 Legislative Session
§ 468.381. Purpose

The Legislature finds that unqualified auctioneers and apprentices and unreliable auction businesses present a significant threat to the public. It is the intent of the Legislature to protect the public by creating a board to regulate auctioneers, apprentices, and auction businesses and by requiring a license to operate.

Cite as Fla. Stat. s 468.381

History. ss. 1, 14, ch. 86-119; s. 62, ch. 91-137; s. 11, ch. 91-156; s. 4, ch. 91-429.

§ 468.382. Definitions

As used in this act, the term:

(1)     "Auction business" means a sole proprietorship, partnership, or corporation which in the regular course of business arranges, manages, sponsors, advertises, promotes, or carries out auctions, employs auctioneers to conduct auctions in its facilities, or uses or allows the use of its facilities for auctions.
(2)     "Auctioneer" means any person licensed pursuant to this part who holds a valid Florida auctioneer license.
(3)     "Apprentice" means any person who is being trained as an auctioneer by a licensed auctioneer.
(4)     "Board" means the Florida Board of Auctioneers.
(5)     "Department" means the Department of Business and Professional Regulation.
(6)     "Livestock" means any animal included in the definition of "livestock" by s. 585.01 or s. 588.13.
(7)     "Agricultural product" means the natural products from a farm, nursery, grove, orchard, vineyard, garden, or apiary, including livestock, tobacco, and vegetables and includes those agricultural products as defined in chapter 618.
(8)     "Absolute auction" means an auction that requires no minimum opening bid that limits the sale other than to the highest bidder.
Cite as Fla. Stat. s 468.382

History. ss. 2, 14, ch. 86-119; s. 66, ch. 90-321; s. 62, ch. 91-137; s. 11, ch. 91-156; s. 1, ch. 91-207; s. 4, ch. 91-429; s. 5, ch. 92-206; s. 3, ch. 92-291; s. 136, ch. 94-218; s.10, ch. 2000-356.

§ 468.383. Exemptions

This act does not apply to the following:

(1)     Auctions conducted by the owner, or the owner's attorney, of any part of the property being offered, unless the owner acquired the goods to resell.
(2)     Auctions conducted under a judicial or an administrative order, or sales required by law to be at auction.
(3)     Auctions conducted by a charitable, civic, or religious organization, or for such organization by a person who receives no compensation.
(4)     Auctions of livestock if conducted by a person who specializes in the sale of livestock and the auction is conducted under the supervision of a livestock trade association, a governmental agency, or an owner of the livestock. The act does not apply to the auction of agricultural products as defined in s. 618.01(1) or the equipment or tools used to produce or market such products, if the auction is conducted at a farm or ranch where the products are produced or where the equipment and tools are used or at an auction facility that sells primarily agricultural products.
(5)     Auctions conducted by a trustee pursuant to a power of sale contained in a deed of trust on real property.
(6)     Auctions of collateral, sales conducted to enforce carriers' or warehousemen's liens, sales of the contents of self-contained storage units, bulk sales, sales of goods by a presenting bank following dishonor of a documentary draft, resales of rightfully rejected goods, or resales conducted pursuant to law, if the auction is conducted by the owner or agent of the lien on or interest in such goods.
(7)     Auctions conducted as a part of the sale of real property by a real estate broker, as defined in s. 475.01(1)(a).
(8)     Auctions of motor vehicles among motor vehicle dealers if conducted by an auctioneer.
(9)     Auctions conducted by a person enrolled in a class at an approved school of auctioneering, for the purpose of training and receiving instruction, under the direct supervision of an auctioneer who is also an instructor in the school and who further assumes full and complete responsibility for the activities of the student.
Cite as Fla. Stat. s 468.383

History. ss. 3, 14, ch. 86-119; s. 1, ch. 87-210; s. 67, ch. 90-321; s. 62, ch. 91-137; s. 11, ch. 91-156; s. 2, ch. 91-207; s. 4, ch. 91-429; s. 199, ch. 94-119; s.5, ch. 97-42; s.298, ch. 97-103.

§ 468.384. Florida Board of Auctioneers

(1)     There is created in the department the Florida Board of Auctioneers. The board shall be composed of five members appointed by the Governor and confirmed by the Senate, two of whom shall have been actively and principally engaged as auctioneers for a period of not less than 5 years preceding their appointment, one of whom shall be a principal of an auction company, and two of whom shall be laypersons. Members shall serve for terms of 4 years.
(2)     The board has authority to adopt rules pursuant to ss. 120.536(1) and 120.54 to implement the provisions of this act conferring duties upon it.
(3)     The board shall receive and act upon applications for auctioneer, apprentice, and auction business licenses and shall have the power to issue, suspend, and revoke such licenses and to take such other action as is necessary to carry out the provisions of this act.
Cite as Fla. Stat. s 468.384

History. ss. 4, 11, 14, ch. 86-119; s. 62, ch. 91-137; s. 11, ch. 91-156; s. 4, ch. 91-429; s. 47, ch. 92-149; s. 137, ch. 94-218; s.134, ch. 98-200.

§ 468.385. Licenses required; qualifications; examination

(1)     The department shall license any applicant who the board certifies is qualified to practice auctioneering.
(2)     No person shall auction or offer to auction any property in this state unless he or she is licensed by the department or is exempt from licensure under this act.
(3)     No person shall be licensed as an auctioneer or apprentice if he or she:
(a)     Is under 18 years of age; or
(b)     Has committed any act or offense in this state or any other jurisdiction which would constitute a basis for disciplinary action under s. 468.389.
(4)     Any person seeking a license as an auctioneer must pass a written examination approved by the board which tests his or her general knowledge of the laws of this state relating to provisions of the Uniform Commercial Code that are relevant to auctions, the laws of agency, and the provisions of this act.
(5)     Each apprentice application and license shall name a licensed auctioneer who has agreed to serve as the supervisor of the apprentice. No apprentice may conduct, or contract to conduct, an auction without the express approval of his or her supervisor. The supervisor shall regularly review the apprentice's records, which are required by the board to be maintained, to determine if such records are accurate and current.
(6)     No person shall be licensed as an auctioneer unless he or she:
(a)     Has held an apprentice license and has served as an apprentice for 1 year or more, or has completed a course of study, consisting of not less than 80 classroom hours of instruction, that meets standards adopted by the board;
(b)     Has passed the required examination; and
(c)     Is approved by the board.
(7)    
(a)     Any auction that is subject to the provisions of this part must be conducted by an auctioneer who has an active license or an apprentice who has an active apprentice auctioneer license and who has received prior written sponsor consent.
(b)     No business shall auction or offer to auction any property in this state unless it is licensed as an auction business by the board or is exempt from licensure under this act. Each application for licensure shall include the names of the owner and the business, the business mailing address and location, and any other information which the board may require. The owner of an auction business shall report to the board within 30 days of any change in this required information.
(8)     A license issued by the department to an auctioneer, apprentice, or auction business is not transferable.
Cite as Fla. Stat. s 468.385

History. ss. 5, 14, ch. 86-119; s. 3, ch. 87-210; s. 62, ch. 91-137; s. 11, ch. 91-156; ss. 3, 16, ch. 91-207; s. 4, ch. 91-429; s. 17, ch. 94-119; s. 138, ch. 94-218; s.11, ch. 97-94; s.299, ch. 97-103; ss.11, 15, ch. 2000-356.

§ 468.3851. Renewal of license

(1)     The department shall renew a license upon receipt of the renewal application and fee.
(2)     The department shall adopt rules establishing a procedure for the biennial renewal of licenses.
Cite as Fla. Stat. s 468.3851

History. ss. 4, 9, ch. 87-210; ss. 62, 65, ch. 91-137; ss. 11, 12, ch. 91-156; s. 4, ch. 91-429; s. 200, ch. 94-119.

§ 468.3852. Reactivation of license; fee

The board shall prescribe by rule a fee not to exceed $250 for the reactivation of an inactive license. The fee shall be in addition to the current biennial renewal fee.

Cite as Fla. Stat. s 468.3852

History. ss. 5, 9, ch. 87-210; s. 41, ch. 89-162; ss. 62, 65, ch. 91-137; ss. 11, 12, ch. 91-156; s. 4, ch. 91-429; s. 201, ch. 94-119.

§ 468.3855. Apprenticeship training requirements

(1)     An auctioneer may not sponsor more than three apprentices at one time. Any auctioneer who serves as a sponsor must have held an active, valid license for 3 consecutive years preceding the date on which that auctioneer is named as sponsor of the apprentice.
(2)     Any auctioneer who undertakes the sponsorship of an apprentice shall ensure that the apprentice receives training as required by board rule.
(3)     An apprentice must actively participate in auction sales as required by board rule, and a record of each auction for which participation credit is claimed must be made as required by board rule.
(4)     Apprentices are prohibited from conducting any auction without the prior express written consent of the sponsor. The apprentice's sponsor must be present at the auction site at any time the apprentice is actively participating in the conduct of the auction. If the apprentice's sponsor cannot attend a particular auction, the sponsor may appoint a qualified auctioneer who meets the requirements of board rule to attend the auction in his or her place. Prior written consent must be given by the apprentice's sponsor for each substitution.
(5)     Each apprentice and sponsor shall file reports as required by board rule.
(6)     A sponsor may not authorize an apprentice to conduct an auction or act as principal auctioneer unless the sponsor has determined that the apprentice has received adequate training to do so.
(7)     The sponsor shall be responsible for any acts or omissions of the apprentice which constitute a violation of law in relation to the conduct of an auction.
(8)     All apprentice applications shall be valid for a period of 6 months after board approval. Any applicant who fails to complete the licensure process within that time shall be required to make application as a new applicant.
(9)     Any licensed apprentice who wishes to change the sponsor under whom he or she is licensed must submit a new application and application fee. However, a new license fee shall not be required and credit shall be awarded for training received or any period of apprenticeship served under the previous sponsor.
(10)     Credit for training received or any period of apprenticeship served shall not be allowed unless it occurred under the supervision of the sponsor under whose supervision the apprentice is licensed.
Cite as Fla. Stat. s 468.3855

History. s.12, ch. 2000-356.

§ 468.386. Fees; local licensing requirements

(1)     The board by rule may establish application, examination, licensure, renewal, and other reasonable and necessary fees, based upon the department's estimate of the costs to the board in administering this act.
(2)     An auctioneer shall obtain a local occupational license, if required, in the jurisdiction in which his or her permanent business or branch office is located. However, no local government or local agency may charge any other fee for the practice of auctioneering or require any auctioneer's license in addition to the license required by this part.
Cite as Fla. Stat. s 468.386

History. ss. 6, 14, ch. 86-119; s. 6, ch. 87-210; s. 62, ch. 91-137; s. 11, ch. 91-156; s. 4, ch. 91-429; s.300, ch. 97-103.

§ 468.387. Licensing of nonresidents; endorsement; reciprocity

The department shall issue a license by endorsement to practice auctioneering to an applicant who, upon applying to the department and remitting the required fee, set by the board, demonstrates to the board that he or she satisfies the requirements of s. 468.385(3) and holds a valid license to practice auctioneering in another state, provided that the requirements for licensure in that state are substantially equivalent to or more stringent than those existing in this state. The endorsement and reciprocity provisions of this section shall apply to auctioneers only and not to professions or occupations regulated by other statutes.

Cite as Fla. Stat. s 468.387

History. ss. 7, 14, ch. 86-119; s. 7, ch. 87-210; s. 62, ch. 91-137; s. 11, ch. 91-156; ss. 4, 16, ch. 91-207; s. 4, ch. 91-429; s. 18, ch. 94-119; s.11, ch. 97-94; s.301, ch. 97-103.

§ 468.388. Conduct of an auction

(1)     Prior to conducting an auction in this state, an auctioneer or auction business shall execute a written agreement with the owner, or the agent of the owner, of any property to be offered for sale, stating:
(a)     The name and address of the owner of the property;
(b)     The name and address of the person employing the auctioneer or auction business, if different from the owner; and
(c)     The terms or conditions upon which the auctioneer or auction business will receive the property for sale and remit the sales proceeds to the owner.
(2)     The auctioneer or auction business shall give the owner one copy of the agreement and shall keep one copy for 2 years after the date of the auction.
(3)     Each auctioneer or auction business shall maintain a record book of all sales. The record book shall be open to inspection by the board at reasonable times.
(4)     Each auction must be conducted by an auctioneer who has an active license or by an apprentice who has an active apprentice auctioneer license and who has received prior written sponsor consent. Each auction must be conducted under the auspices of a licensed auction business. Any auctioneer or apprentice auctioneer conducting an auction, and any auction business under whose auspices such auction is held, shall be responsible for determining that any auctioneer, apprentice, or auction business with whom they are associated in conducting such auction has an active Florida auctioneer, apprentice, or auction business license.
(5)     The principal auctioneer shall prominently display at the auction site the licenses of the principal auctioneer, the auction business, and any other licensed auctioneers or apprentices who are actively participating in the auction. If such a display is not practicable, then an oral announcement at the beginning of the auction or a prominent written announcement that these licenses are available for inspection at the auction site must be made.
(6)     If a buyer premium or any surcharge is a condition to sale at any auction, the amount of the premium or surcharge must be announced at the beginning of the auction and a written notice of this information must be conspicuously displayed or distributed to the public at the auction site.
(7)     At the beginning of an auction must be announced the terms of bidding and sale and whether the sale is with reserve, without reserve, or absolute or if a minimum bid is required. If the sale is absolute and has been announced or advertised as such, an article or lot may not be withdrawn from sale once a bid has been accepted. If no bid is received within a reasonable time, the item or lot may be withdrawn.
(8)     If an auction has been advertised as absolute, no bid shall be accepted from the owner of the property or from someone acting on behalf of the owner unless the right to bid is specifically permitted by law.
(9)     The auction business under which the auction is conducted is responsible for all other aspects of the auction as required by board rule. The auction business may delegate in whole, or in part, different aspects of the auction only to the extent that such delegation is permitted by law and that such delegation will not impede the principal auctioneer's ability to ensure the proper conduct of his or her independent responsibility for the auction. The auction business under whose auspices the auction is conducted is responsible for ensuring compliance as required by board rule.
(10)    
(a)     When settlement is not made immediately after an auction, all sale proceeds received for another person must be deposited in an escrow or trust account in an insured bank or savings and loan association located in this state within 2 working days after the auction. A maximum of $100 may be kept in the escrow account for administrative purposes.
(b)     Each auction business shall maintain, for not less than 2 years, a separate ledger showing the funds held for another person deposited and disbursed by the auction business for each auction. The escrow or trust account must be reconciled monthly with the bank statement. A signed and dated record shall be maintained for a 2-year period and be available for inspection by the department or at the request of the board.
(c)     Any interest which accrues to sale proceeds on deposit shall be the property of the seller for whom the funds were received unless the parties have agreed otherwise by written agreement executed prior to the auction.
(d)     Unless otherwise provided by written agreement executed prior to the auction, funds received by a licensee from the seller or his or her agent for expenses, including advertising, must be expended for the purposes advanced or refunded to the seller at the time of final settlement. Any funds so received shall be maintained in an escrow or trust account in an insured bank or savings and loan association located in this state. However, this does not prohibit advanced payment of a flat fee.
(11)    
(a)     All advertising by an auctioneer or auction business shall include the name and Florida license number of such auctioneer and auction business. The term "advertising" shall not include articles of clothing, directional signs, or other promotional novelty items.
(b)     No licensed auctioneer, apprentice, or auction business may disseminate or cause to be disseminated any advertisement or advertising which is false, deceptive, misleading, or untruthful. Any advertisement or advertising shall be deemed to be false, deceptive, misleading, or untruthful if it:
1.     Contains misrepresentations of facts.
2.     Is misleading or deceptive because, in its content or in the context in which it is presented, it makes only a partial disclosure of relevant facts.
3.     Creates false or unjustified expectations of the services to be performed.
4.     Contains any representation or claim which the advertising licensee fails to perform.
5.     Fails to include the name and license number of the principal auctioneer and the auction business.
6.     Fails to include the name and license number of the sponsor if an apprentice is acting as the principal auctioneer.
7.     Advertises an auction as absolute without specifying any and all items to be sold with reserve or with minimum bids.
8.     Fails to include the percentage amount of any buyer's premium or surcharge which is a condition to sale.
(c)     The provisions of this subsection apply to media exposure of any nature, regardless of whether it is in the form of paid advertising.
(d)     The auction business shall be responsible for the content of all advertising disseminated in preparation for an auction.
Cite as Fla. Stat. s 468.388

History. ss. 8, 14, ch. 86-119; s. 62, ch. 91-137; s. 11, ch. 91-156; s. 5, ch. 91-207; s. 4, ch. 91-429; s.302, ch. 97-103; s.13, ch. 2000-356.

§ 468.389. Prohibited acts; penalties

(1)     The following acts shall be grounds for the disciplinary activities provided in subsections (2) and (3):
(a)     A violation of any law relating to trade or commerce of this state or of the state in which an auction is conducted.
(b)     Misrepresentation of property for sale at auction or making false promises concerning the use, value, or condition of such property by an auctioneer or auction business or by anyone acting as an agent of or with the consent of the auctioneer or auction business.
(c)     Failure to account for or to pay or return, within a reasonable time not to exceed 30 days, money or property belonging to another which has come into the control of an auctioneer or auction business through an auction.
(d)     False, deceptive, misleading, or untruthful advertising.
(e)     Any conduct in connection with a sales transaction which demonstrates bad faith or dishonesty.
(f)     Using or permitting the use of false bidders, cappers, or shills.
(g)     Making any material false statement on a license application.
(h)     Commingling money or property of another person with his or her own. Every auctioneer and auction business shall maintain a separate trust or escrow account in an insured bank or savings and loan association located in this state in which shall be deposited all proceeds received for another person through an auction sale.
(i)     Refusal or neglect of any auctioneer or other receiver of public moneys to pay the moneys so received into the State Treasury at the times and under the regulations prescribed by law.
(j)     Violating a statute or administrative rule regulating practice under this part or a lawful disciplinary order of the board or the department.
(k)     Having a license to practice a comparable profession revoked, suspended, or otherwise acted against by another state, territory, or country.
(l)     Being convicted or found guilty, regardless of adjudication, of a crime in any jurisdiction which directly relates to the practice or the ability to practice the profession of auctioneering.
(2)     When the board finds any person guilty of any of the prohibited acts set forth in subsection (1), it may enter an order imposing one or more of the following penalties:
(a)     Refusal to certify to the department an application for licensure.
(b)     Revocation or suspension of a license.
(c)     Imposition of an administrative fine not to exceed $1,000 for each count or separate offense.
(d)     Issuance of a reprimand.
(e)     Placement of the auctioneer on probation for a period of time and subject to conditions as the board may specify, including requiring the auctioneer to successfully complete the licensure examination.
(f)     Requirement that the person in violation make restitution to each consumer affected by that violation. Proof of such restitution shall be a signed and notarized release executed by the consumer or the consumer's estate.
(3)    
(a)     Failure to pay a fine within a reasonable time, as prescribed by board rule, may be grounds for disciplinary action.
(b)     The department may file for an injunction or bring any other appropriate civil action against anyone who violates this part.
Cite as Fla. Stat. s 468.389

History. ss. 9, 14, ch. 86-119; s. 8, ch. 87-210; s. 62, ch. 91-137; s. 11, ch. 91-156; ss. 6, 16, ch. 91-207; s. 4, ch. 91-429; s. 19, ch. 94-119; s.11, ch. 97-94; s.303, ch. 97-103; s.14, ch. 2000-356.

§ 468.391. Penalty

Any auctioneer, apprentice, or auction business or any owner or manager thereof, or, in the case of corporate ownership, any substantial stockholder of the corporation owning the auction business, who operates without an active license or violates s. 468.389(1)(c), (e), (f), (h), or (i) commits a felony of the third degree, punishable as provided in s. 775.082 or s. 775.083.

Cite as Fla. Stat. s 468.391

History. ss. 12, 14, ch. 86-119; s. 62, ch. 91-137; s. 11, ch. 91-156; s. 7, ch. 91-207; s. 4, ch. 91-429; s.15, ch. 2000-356; s.4, ch. 2012-61.

§ 468.392. Auctioneer Recovery Fund

There is created the Auctioneer Recovery Fund as a separate account in the Professional Regulation Trust Fund. The fund shall be administered by the Florida Board of Auctioneers.

(1)     The Chief Financial Officer shall invest the money not currently needed to meet the obligations of the fund in the same manner as other public funds may be invested. Interest that accrues from these investments shall be deposited to the credit of the Auctioneer Recovery Fund and shall be available for the same purposes as other moneys deposited in the Auctioneer Recovery Fund.
(2)     All payments and disbursements from the Auctioneer Recovery Fund shall be made by the Chief Financial Officer upon a voucher signed by the Secretary of Business and Professional Regulation or the secretary's designee.
(3)     If at any time the moneys in the Auctioneer Recovery Fund are insufficient to satisfy any valid claim or portion thereof, the board shall satisfy such unpaid claim or portion thereof as soon as a sufficient amount has been deposited in or transferred to the fund. When there is more than one unsatisfied claim outstanding, such claims shall be paid in the order in which the claims were made.
(4)     Upon the payment of any amount from the Auctioneer Recovery Fund in settlement of a claim in satisfaction of a judgment against an auctioneer or auction business as described in s. 468.395, the license of such auctioneer or auction business shall be automatically suspended until the licensee has complied with s. 468.398. A discharge of bankruptcy shall not relieve a person from the penalties and disabilities provided in this section.
(5)     Moneys in the fund at the end of a fiscal year shall be retained in the fund and shall accrue for the benefit of auctioneers and auction businesses. When the fund exceeds the amount as set forth in s. 468.393(2), all surcharges shall be suspended until such time as the fund is reduced below the amount as set forth in s. 468.393(3).
Cite as Fla. Stat. s 468.392

History. ss. 8, 17, ch. 91-207; s. 4, ch. 91-429; s. 139, ch. 94-218; s.16, ch. 2000-356; s.502, ch. 2003-261; s.54, ch. 2005-152.

§ 468.393. Surcharge to license fee; assessments

(1)     At the time of licensure under s. 468.385, s. 468.3851, or s. 468.3852, each licensee shall pay, in addition to an application and license fee, a surcharge in an amount to be determined by the board, not to exceed $300, which shall be deposited in the Auctioneer Recovery Fund.
(2)     If the total amount in the Auctioneer Recovery Fund, including principal and interest, exceeds $500,000 at the end of the state fiscal year after the payment of all claims and expenses, the amount in excess of $500,000 shall remain in the fund for benefit of the licensees in tolling the surcharge until such time as the surcharge shall need replenishing.
(3)     After October 1, 1995, if the total amount in the Auctioneer Recovery Fund, including principal and interest, is less than $200,000 at the end of the fiscal year after the payment of all claims and expenses, the board shall assess, in addition to any other fees under s. 468.3852, a surcharge against a licensee at the time of initial licensure or at the time of license renewal, according to the following formula in order to maintain the fund at $500,000:
(a)     Determine the amount remaining in the fund at the end of the state fiscal year after all expenses and claims have been paid.
(b)     Subtract the amount determined under paragraph (a) from $500,000.
(c)     Determine the number of initial licenses and license renewals in the fiscal year that precedes the current fiscal year.
(d)     Divide the amount determined under paragraph (b) by the number determined under paragraph (c).
(4)     The board shall assess the surcharge described in subsection (3) against each licensee who receives an initial license or receives a renewal license during the fiscal year that follows the year in which the amount remaining in the fund was less than $200,000.
Cite as Fla. Stat. s 468.393

History. ss. 9, 17, ch. 91-207; s. 4, ch. 91-429; s. 130, ch. 92-149.

§ 468.394. Interest credited; payment of expenses

Any interest earned or investment of money in the Auctioneer Recovery Fund shall be credited at least semiannually to the fund. No money may be appropriated from the General Revenue Fund for payment of any expenses incurred under this part, and none of these expenses may be charged against the state.

Cite as Fla. Stat. s 468.394

History. ss. 10, 17, ch. 91-207; s. 4, ch. 91-429.

§ 468.395. Conditions of recovery; eligibility

(1)     Recovery from the Auctioneer Recovery Fund may be obtained as follows:
(a)     Any aggrieved person is eligible to receive recovery from the Auctioneer Recovery Fund if the Florida Board of Auctioneers has issued a final order directing an offending licensee to pay restitution to the claimant as the result of the licensee violating, within this state, any provision of s. 468.389 or any rule adopted by the board and if the board determined that the order of restitution cannot be enforced; or
(b)     Any aggrieved person who obtains a final judgment in any court against any licensee to recover damages for any actual loss that results from the violation, within this state, by a licensee of any provision of s. 468.389 or any rule adopted by the board may, upon termination of all proceedings, including appeals and proceedings supplemental to judgment for collection purposes, file a verified application to the board for an order directing payment out of the Auctioneer Recovery Fund of the amount of actual loss in the transaction that remains unpaid upon the judgment. The amount of actual loss may include court costs, but shall not include attorney's fees or punitive damages awarded.
(2)     The amount paid from the Auctioneer Recovery Fund may not exceed $50,000 per claim or claims arising out of the same transaction or auction or an aggregate lifetime limit of $100,000 with respect to any one licensee. For purposes of this subsection, auctions conducted under a single contract, agreement, or consignment shall be considered a single transaction or auction even though conducted at more than one time or place.
(3)     A claim for recovery from the Auctioneer Recovery Fund shall be made within 2 years from the time of the act giving rise to the claim or within 2 years from the time the act is discovered or should have been discovered with the exercise of due diligence; however, in no event may a claim for recovery be made more than 4 years after the date of the act giving rise to the claim.
(4)     The board shall not issue an order for payment of a claim from the Auctioneer Recovery Fund unless the claimant has reasonably established to the board that she or he has taken proper and reasonable action to collect the amount of her or his claim from the licensee responsible for the loss and that any recovery made has been applied to reduce the amount of the claim on the Auctioneer Recovery Fund.
(5)     Notwithstanding any other provision of this part, no claim based on any act or omission that occurred outside this state or that occurred before October 1, 1991, shall be payable from the Auctioneer Recovery Fund.
(6)     In case of payment of loss from the Auctioneer Recovery Fund, the fund shall be subrogated, to the extent of the amount of the payment, to all the rights of the claimant against any licensee with respect to the loss.
Cite as Fla. Stat. s 468.395

History. ss. 11, 17, ch. 91-207; s. 4, ch. 91-429; s. 131, ch. 92-149; s.304, ch. 97-103; s.17, ch. 2000-356.

§ 468.396. Claims against a single licensee in excess of dollar limitation; joinder of claims, payment; insufficient funds

(1)     If the payment in full of two or more pending valid claims that have been filed by aggrieved persons against a single licensee would exceed the $50,000 limit as set forth in s. 468.395, the $50,000 shall be distributed among the aggrieved persons in the ratio that their respective claims bear to the aggregate of all valid claims or in any other manner that a court of record may determine to be equitable. Such money shall be distributed among the persons entitled to share in it without regard to the order of priority in which their respective judgments have been obtained or their claims have been filed.
(2)     Upon petition of the board, the court may require all claimants and prospective claimants against one licensee to be joined in one action, to the end that the respective rights of all the claimants to the board may be equitably adjudicated and settled.
(3)     On June 30 and December 31 of each year, the board shall identify each claim that the court orders to be paid during the 6-month period that ended on that day. The board shall pay the part of each claim that is so identified within 15 days after the end of the 6-month period in which the claim is ordered paid. However, if the balance in the fund is insufficient to pay the full payable amount of each claim that is ordered to be paid during a 6-month period, the board shall pay a prorated portion of each claim that is ordered to be paid during the period. Any part of the payable amount of a claim left unpaid due to the prorating of payments under this subsection shall be paid, subject to the $50,000 limit described in s. 468.395, before the payment of claims ordered to be paid during the following 6 months.
Cite as Fla. Stat. s 468.396

History. ss. 12, 17, ch. 91-207; s. 4, ch. 91-429.

§ 468.397. Payment of claim

Upon a final order of the court directing that payment be made out of the Auctioneer Recovery Fund, the board shall, subject to the provisions of this part, make the payment out of the Auctioneer Recovery Fund as provided in s. 468.395.

Cite as Fla. Stat. s 468.397

History. ss. 13, 17, ch. 91-207; s. 4, ch. 91-429; s.18, ch. 2000-356.

§ 468.398. Suspension of judgment debtor's license; repayment by licensee; interest

If the board is required to make any payment from the Auctioneer Recovery Fund in settlement of a claim or toward the satisfaction of a judgment under this part, the board shall suspend the judgment debtor's license. The licensee is not eligible to be licensed again as either an auctioneer or auction business until the licensee has repaid in full the amount paid from the Auctioneer Recovery Fund, with interest at the current applicable rate.

Cite as Fla. Stat. s 468.398

History. ss. 14, 17, ch. 91-207; s. 4, ch. 91-429.

§ 468.399. Expenditure of excess funds

Subject to the approval of the board with the concurrence of the department, the board may expend excess moneys from the Auctioneer Recovery Fund to fund publications that provide:

(1)     Information concerning the board's activities and administrative rulings.
(2)     Distribution of laws, rules, and educational information concerning the practice of auctioneering.
Cite as Fla. Stat. s 468.399

History. ss. 15, 17, ch. 91-207; s. 4, ch. 91-429.