Section 1.26. Application for auction house and auction company licenses

(a) An applicant for an auction house or auction company license shall:

(1) Complete and submit the application provided by the Board.

(2) Submit with the application a check or money order for the required fee, payable to the ‘‘Commonwealth of Pennsylvania.’’

(3) File with the Board an approved surety bond payable to the Commonwealth in the amount of $5,000 in accordance with section 13 of the act (63 P. S. § 734.13).

(b) Auction houses and auction companies which were issued licenses prior to July 8, 1989, and have not paid the required fee shall remit the fee within 30 days of receipt of notice from the Board and thereafter will be required to pay the biennial renewal fee. Failure to remit the required licensure fee within that time will result in the license being placed on inactive status. The Board may take disciplinary action against a license holder for operation of an auction house or auction company when the license is on inactive status.

The provisions of this § 1.26 adopted July 7, 1989, effective July 8, 1989, 19 Pa.B. 2951; amended November 27, 1998, effective November 28, 1998, 28 Pa.B. 5869. Immediately preceding text appears at serial page (201638).

Notation

Authority

The provisions of this § 1.26 issued under sections 6(a), 9(b) and 10(b) of The Auctioneer and Auction Licensing Act (63 P. S. § § 734.6(a), 734.9(b) and 734.10(b)).