2013 Rhode Island General Laws
Title 5 - Businesses and Professions
Chapter 5-58 - Auctioneers
Section 5-58-2 - Auctioneer's and apprentice's bond.

RI Gen L § 5-58-2 (2013) What's This?

§ 5-58-2 Auctioneer's and apprentice's bond. – Every auctioneer, upon approval of application and prior to issuance of a license or an apprentice permit, shall deliver and file with the department of business regulation a surety company bond in favor of the people of the state of Rhode Island in the principle asum not exceeding ten thousand dollars ($10,000) nor less than two thousand dollars ($2,000), at the discretion of the director; and payable to any party injured under the terms of the bond. The bond does not limit or impact any right of recovery available pursuant to law nor is the amount of the bond relevant in determining the amount of damage or other relief to which any claimant shall be entitled.

History of Section.
(P.L. 1997, ch. 30, art. 33, § 1; P.L. 1998, ch. 119, § 1.)

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