Question:With Which States Do We Reciprocate

FREQUENTLY ASKED QUESTIONS FOR AUCTIONEERS

Question: With which states do we reciprocate? Answer: Alabama, Arkansas, Florida, Georgia, Illinois, Kentucky, North Carolina, Ohio, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Virginia, West Virginia, and California if licensed prior to May 1, 1992.

Question: How much are the fees for auctioneers? Answer: The fee is seventy ($70.00) dollars for reciprocal, initial (by exam), auction house and auction company licenses. Temporary permits are twenty-five ($25.00) and examination fees are thirty-five ($35.00) dollars.

Question: When does my license expire? Answer: Licenses shall expire at midnight, February 28 every fourth year on the even year.

Question: Do I need a bond? Answer: No. An auctioneer recovery fund exists. After all legal steps have been exhausted by the aggrieved person; a request may be submitted to the Commission to consider recovering a lost from this fund.

Question: Do I need an escrow account? Can it collect interest? Answer: Yes, you need an escrow account. It may be an interest or non interest bearing account.

Question: Can I get a temporary permit for an auction? Answer: Yes, pursuant to IC 25-6.1-3-2(l) and 812 IAC 1-1-17 a temporary permit may be issued, if the qualifications are met.

Question: Do you have to go to school to be an auctioneer? Answer: Yes, pursuant to IC 25 -6.1-3-2(2), as an examination applicant, you must have completed eighty (80) actual hours of auction instruction from a course provider approved by the Commission.

Question: Does an auctioneer need continuing education (CE) courses? Answer: Yes. An auctioneer must successfully complete sixteen (16) hours of CE from a provider approved by the Commission. Pursuant to IC 25-6.1-9-7, a licensee who is initially licensed in the fourth (4th) year of the renewal period is exempt from the CE requirement for that renewal period only.

Question: What is the CE requirement? Answer: To renew active you must report at least sixteen (16) CE hours obtained from approved providers within the four (4) year period immediately preceding your renewal application as stated in IC 25-6.1-9-1.

(1) At least six (6) actual hours of courses in any of the following core subjects: (A) Indiana rules and statutes governing auctioneering. (B) Federal statutes governing auctioneering. (C) Auctioneering ethics. (D) Escrow and trust funds. (E) Contracts. (F) Any other subject matter approved by the commission.

(2) At least ten (10) actual hours of courses in any of the following elective subjects: (A) Agency. (B) Business courses related to auctioneering. (C) Auction management. (D) Bid calling. (E) Public speaking. (F) Advertising. (G) Specialty auction topics. (H) Any other subject matter approved by the commission

Question: How do I report my CE? Answer: Report the continuing education on the renewal application. Send proof only if chosen for the random audit.

Question: If I am not practicing when I renew do I need CE? Answer: No. You may renew inactive without obtaining any CE hours. When in inactive status you may not practice unless you activate your license.

Question: How do I activate my license? Answer: You must file an activation form and attach proof of completion of sixteen (16) CE hours in the required subjects. These hours must have been obtained for the licensure period during which the license is reinstated.

Question: I just received my license. Do I need CE in this license period? Answer: Pursuant to IC 25-6.1-9-7, licenses issued in the fourth (4th) year of the four (4) year licensure period are not required to obtain any CE in that period to renew active.

Question: Can I get an extension to obtain my CE? Answer: A licensee who fails to obtain the required number of CE hours during the license period may cure that deficiency by taking them in the next licensure period. However the license may not renew active until the deficiency is eliminated.

Question: Can I get my CE waived? Answer: Waiver is available if the licensee established on of the following:

1. Had an incapacitating illness or injury. 2. Service in the armed forces of the United States during a substantial part of the renewal period. 3. Other circumstances determined by the commission.

Question: Is self study CE acceptable? Answer: Yes, from an approved provider. Only fifty (50%) of the total requirement may be in self study courses.