2006 Kentucky Revised Statutes - .110   License suspension, revocation, and other penalties -- Grounds.

330.110 License suspension, revocation, and other penalties -- Grounds. The board may suspend for a period up to four (4) years or revoke the license of any licensee, or levy fines not to exceed five hundred dollars ($500) against any licensee, or place any licensee on probation for a period of up to three (3) years, or require successful passage of any examination administered by the board, or require successful completion of any course of auction study or auction seminars designated by the board, or issue a formal reprimand, or order any combination of the above, for violation by any licensee of any of the provisions of this chapter, or for any of the following causes: (1)  Obtaining a license through false or fraudulent representation; (2)  Making any substantial misrepresentation; (3)  Pursuing a continued and flagrant course of misrepresentation or intentionally making false promises or disseminating misleading information through agents or advertising or otherwise; (4)  Accepting valuable consideration as an apprentice auctioneer for the performance of any of the acts specified in this chapter, from any person, except his or her principal auctioneer; (5)  Failing to account for or remit, within a reasonable time, any money belonging to others that comes into the licensee's possession, commingling funds of others with the licensee's own, or failing to keep such funds of others in an escrow or trustee account; (6)  Paying valuable consideration to any person for services performed in violation of this chapter, or procuring, permitting, aiding, or abetting any unlicensed person acting in violation of any of the provisions of this chapter; (7)  Being convicted in a court of competent jurisdiction of this or any other state of a criminal offense involving moral turpitude or a felony; (8)  Violation of any administrative regulation promulgated by the board; (9)  Failure to furnish voluntarily at the time of execution, copies of all written instruments prepared by the auctioneer, apprentice auctioneer, or auction house operator; (10) Any conduct of a licensee which demonstrates bad faith, dishonesty, incompetency, or untruthfulness; (11) Any other conduct that constitutes improper, fraudulent, dishonest, or negligent dealings; (12) Failing prior to the sale at public auction or prior to publicly advertising any goods for sale or offering any goods for sale to enter into a written contract with the owner or consignee of any property to be sold, containing the terms and conditions upon which the licensee receives the property for sale; (13) After January 1, 1993, failure of any licensee to insert in any advertising pertaining to a particular sale the name of the auctioneer. Effective: July 15, 1998 History: Amended 1998 Ky. Acts ch. 285, sec. 7, effective July 15, 1998. -- Amended 1992 Ky. Acts ch. 344, sec. 10, effective July 14, 1992. -- Amended 1990 Ky. Acts ch. 170, sec. 9, effective July 13, 1990. -- Amended 1984 Ky. Acts ch. 407, sec. 6, effective July 13, 1984. -- Created 1962 Ky. Acts ch. 251, sec. 11.