The proposed amendment will update the text of the existing rule.

 

DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION

Board of Auctioneers

RULE NO.:RULE TITLE:

61G2-5.001Requirements for Conducting an Auction

PURPOSE AND EFFECT: The proposed amendment will update the text of the existing rule.

SUMMARY: Update text

SUMMARY OF STATEMENT OF ESTIMATED REGULATORY COSTS AND LEGISLATIVE RATIFICATION:

The Agency has determined that this will not have an adverse impact on small business or likely increase directly or indirectly regulatory costs in excess of $200,000 in the aggregate within one year after the implementation of the rule. A SERC has not been prepared by the Agency.

The Agency has determined that the proposed rule is not expected to require legislative ratification based on the statement of estimated regulatory costs or if no SERC is required, the information expressly relied upon and described herein: During discussion of the economic impact of this rule at its Board meeting, the Board, based upon the expertise and experience of its members, determined that a Statement of Estimated Regulatory Costs (SERC) was not necessary and that the rule will not require ratification by the Legislature. No person or interested party submitted additional information regarding the economic impact at that time.

Any person who wishes to provide information regarding a statement of estimated regulatory costs, or provide a proposal for a lower cost regulatory alternative must do so in writing within 21 days of this notice.

RULEMAKING AUTHORITY: 468.384(2), FS.

LAW IMPLEMENTED: 468.388, 468.389, FS.

IF REQUESTED WITHIN 21 DAYS OF THE DATE OF THIS NOTICE, A HEARING WILL BE SCHEDULED AND ANNOUNCED IN THE FAR.

THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE IS: Krista Woodard, Executive Director, Board of Auctioneers, 2601 Blair Stone Road, Tallahassee, FL 32399-0790, [phone] or by electronic mail – [e-mail].

 

THE FULL TEXT OF THE PROPOSED RULE IS:

 

61G2-5.001 Requirements for Conducting an Auction.

(1) through (2) No change. 

(3) The auction business under which the auction is conducted is responsible for all other aspects of the auction to include contract negotiations, advertising, auction organization and layout, merchandise distribution and final settlement with the seller. 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 assure the proper conduct of his independent responsibility for the auction. The auction business under whose auspices the auction is conducted is responsible for assuring compliance with the following requirements:

(a) through (b) No change. 

(c) Assure that all advertising is in compliance with Rule 61G2-5.004, F.A.C.;

(c)(d) Comply with Section 468.388(10), F.S., regarding clients’ funds and auction proceeds.

(d)(e) Designate a principal auctioneer for each auction conducted.

Rulemaking Authority 468.384(2) FS. Law Implemented 468.388, 468.389 FS. History–New 10-19-87, Amended 7-4-88, 12-11-88, 12-3-90, 1-28-92, Formerly 21BB-5.001, Amended 10-12-93, 6-19-12,                 .

 

NAME OF PERSON ORIGINATING PROPOSED RULE: Board of Auctioneers

NAME OF AGENCY HEAD WHO APPROVED THE PROPOSED RULE: Board of Auctioneers

DATE PROPOSED RULE APPROVED BY AGENCY HEAD: September 28, 2018

DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAR: November 14, 2018