Rules and Regulations of the State of Georgia
 

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  • 1. In the address bar, type about:config and press Enter.
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<xmp>.</xmp> <form name="form1" method="post" action="55-5?urlRedirected=yes&amp;data=admin&amp;lookingfor=55-5" id="form1"> <input type="hidden" name="__VIEWSTATE" id="__VIEWSTATE" value="/wEPDwUKLTY5ODkwOTM2Nw8WAh4Ec3BhbQIJFgJmD2QWAgIFDw8WAh4EVGV4dAUFOCArIDFkZGROwmlH4bH3RGCCsR1i/97/Ofaa4w==" /> <input type="hidden" name="__VIEWSTATEGENERATOR" id="__VIEWSTATEGENERATOR" value="EEBB6393" /> <input type="hidden" name="__EVENTVALIDATION" id="__EVENTVALIDATION" value="/wEWCAK1n4vzBQLniKOhBALV5cpNAoa5iIEFAoznisYGAsrv5u0MAsrv4u0MAsrv3u0MP2sVvYYkfTK0E2Q//yU49VRpYGM=" /> <div class='popup'> <div class='cnt223'> <div style="margin-bottom:6px;"> <img alt="Rules and Regulations of the State of Georgia" src="/images/new.gif"/> </div> <div class="header"> Terms and Conditions of Agreement for Access to Rules and Regulations of the State of Georgia Website </div> <div class="scroll"> <p>(Note: certain features of this site have been disabled for the general public to prevent digital piracy. If you are an entitled government entity pursuant the Georgia Administrative Procedures Act, <a target="_new" href="http://links.casemakerlegal.com/states/GA/books/Code_of_Georgia/browse?ci=25id=gasos&amp;codesec=50-13-7&amp;title=50&amp;#50-13-7(d)">O.C.G.A.§ 50-13-7(d)</a> contact the State of Georgia's Administrative Procedures Division at 678-364-3785 to enable these features for your location.)</p> <p>To access this website, you must agree to the following: </p> <p> These terms of use are a contract between you and/or your employer (if any), and Lawriter, LLC. </p> <p> You agree that you will not copy, print, or download anything from this website for any commercial use. </p> <p> You agree not to use any web crawler, scraper, or other robot or automated program or device to obtain data from the website.</p> <p> You agree that you will not sell, will not license, and will not otherwise make available in exchange for anything of value, anything that you download, print, or copy from this site.</p> <p> You agree that you will not copy, print, or download any portion of the regulations posted on this site exceeding a single chapter of regulations for sale, license, or other transfer to a third party, except that you may quote a reasonable portion of the regulations in the course of rendering professional advice.</p> <p> If you violate this agreement, or if you access or use this website in violation of this agreement, you agree that Lawriter will suffer damages of at least $20,000. </p> <p> THIS WEBSITE AND ITS CONTENT ARE PROVIDED "AS IS." 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class="breadcrumb"> <li><a href="/GAC" name="GAC" title="GAC">GA R&amp;R</a></li> <li>&raquo; <a href="/GAC/55" title="55">Department 55</a></li> <li>&raquo; Chapter 55-5</li> </ul> </div> </div><div id="doc" class="container"> <div id="doc-content" class="content"> <h1><nllchapter>Chapter 55-5 CONDUCT OF AUCTIONS</nllchapter></h1> <h2><a href="/GAC/55-5-.01" name="55-5-.01" title="55-5-.01">Rule 55-5-.01 Responsibilities of the Auctioneer</a></h2> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="55-5-.01(1)">(1)</a></td> <td valign="top" style="text-align:left" class="leftalign"> The principal auctioneer of an auction shall mean the auctioneer or a licensed or exempt auction company considered by the seller and the crew working the auction as the principal auctioneer, or by contract as the principal auctioneer, and shall be responsible for all aspects of said auction.</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="55-5-.01(2)">(2)</a></td> <td valign="top" style="text-align:left" class="leftalign"> The principal auctioneer shall be responsible for the inclusion of his/her name and license number or the name and license number of the auctioneer and/or auction company for which the auctioneer is employed in any circular and in any other type advertisement advertising an auction.</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="55-5-.01(3)">(3)</a></td> <td valign="top" style="text-align:left" class="leftalign"> The auction company shall be responsible for maintaining for a period of three years from each auction: <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="55-5-.01(3)(a)">(a)</a></td> <td valign="top" style="text-align:left" class="leftalign"> An executed contract, which shall include: <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="55-5-.01(3)(a)1.">1.</a></td> <td valign="top" style="text-align:left" class="leftalign"> The name(s), and address(es), telephone number(s) and signature(s) of the seller(s) of the property offered;</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="55-5-.01(3)(a)2.">2.</a></td> <td valign="top" style="text-align:left" class="leftalign"> The name(s), addresses(es), telephone number(s) and signature(s) of the auctioneer in charge of the sale;</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="55-5-.01(3)(a)3.">3.</a></td> <td valign="top" style="text-align:left" class="leftalign"> The date of execution;</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="55-5-.01(3)(a)4.">4.</a></td> <td valign="top" style="text-align:left" class="leftalign"> The proposed date and place that the auction is to be held;</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="55-5-.01(3)(a)5.">5.</a></td> <td valign="top" style="text-align:left" class="leftalign"> Terms of compensation;</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="55-5-.01(3)(a)6.">6.</a></td> <td valign="top" style="text-align:left" class="leftalign"> Date of proposed settlement. </td> </tr> </table> </td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="55-5-.01(3)(b)">(b)</a></td> <td valign="top" style="text-align:left" class="leftalign"> A closing statement, which shall include: <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="55-5-.01(3)(b)1.">1.</a></td> <td valign="top" style="text-align:left" class="leftalign"> The name(s) and address(es) of the seller(s) of the property offered;</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="55-5-.01(3)(b)2.">2.</a></td> <td valign="top" style="text-align:left" class="leftalign"> The price at which the property sold;</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="55-5-.01(3)(b)3.">3.</a></td> <td valign="top" style="text-align:left" class="leftalign"> The date and place of said auction;</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="55-5-.01(3)(b)4.">4.</a></td> <td valign="top" style="text-align:left" class="leftalign"> The date the proceeds were delivered to said owner;</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="55-5-.01(3)(b)5.">5.</a></td> <td valign="top" style="text-align:left" class="leftalign"> Signature(s) of the seller(s); and </td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="55-5-.01(3)(b)6.">6.</a></td> <td valign="top" style="text-align:left" class="leftalign"> Lists of items sold. <P>(These records shall be subject to inspection, upon request by the Commission or its representative.)</P> </td> </tr> </table> </td> </tr> </table> </td> </tr> </table> <h2><a href="/GAC/55-5-.02" name="55-5-.02" title="55-5-.02">Rule 55-5-.02 Escrow Accounts</a></h2> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="55-5-.02(1)">(1)</a></td> <td valign="top" style="text-align:left" class="leftalign"> Prior to the issuance of a license, each auctioneer shall forward or shall cause to be forwarded to the Commission the following: <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="55-5-.02(1)(a)">(a)</a></td> <td valign="top" style="text-align:left" class="leftalign"> The name of the bank and the account number of any escrow or trustee account wherein the funds of others held by the Auctioneer are maintained.</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="55-5-.02(1)(b)">(b)</a></td> <td valign="top" style="text-align:left" class="leftalign"> An authorization permitting the examination of any escrow or trustee account by a duly authorized representative of the Commission when so directed by the Commission.</td> </tr> </table> </td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="55-5-.02(2)">(2)</a></td> <td valign="top" style="text-align:left" class="leftalign"> All licensed auctioneers are required to deposit all proceeds from all auctions into an/a escrow/trust account(s), within forty-eight (48) hours or the next business day after collection of the funds, unless settlement is made within 24 hours.</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="55-5-.02(3)">(3)</a></td> <td valign="top" style="text-align:left" class="leftalign"> Any licensed auctioneer in Georgia who works directly for an auction company or who works directly for another licensed auctioneer who maintains an active escrow account may use that escrow account and number in all applications for licensure or renewal, provided that the escrow account is used solely for the purpose of holding funds of others in relation to auctions.</td> </tr> </table> </div> </div> </HTML> </div> <div id="toc" class="sidebar noprint"> <ul id="toc-children" class="children"><li><a href="/GAC/55-5-.01" name="55-5-.01" title="55-5-.01">Rule 55-5-.01 Responsibilities of the Auctioneer</a></li><li><a href="/GAC/55-5-.02" name="55-5-.02" title="55-5-.02">Rule 55-5-.02 Escrow Accounts</a></li></ul> </div> </div> <!--content ends here--> <div id="footer" class="noprint"><span class="footer">Copyright &copy; 2019 Lawriter LLC - All rights reserved.</span>| <a href="mailto:support@casemakerlegal.com?subject=Rules and Regulations of the State of Georgia">Email Us</a> | 844-838-0769 | <a href="http://livechat.casemakerlegal.com/client.php?locale=en" target="_blank" onclick="if(navigator.userAgent.toLowerCase().indexOf('opera') != -1 && window.event.preventDefault)window.event.preventDefault();this.newWindow = window.open('http://livechat.casemakerlegal.com/client.php?locale=en&url='+escape(document.location.href)+'&referrer='+escape(document.referrer), 'webim','toolbar=0,scrollbars=0,location=0,status=1,menubar=0,width=640,height=480,resizable=1');this.newWindow.focus();this.newWindow.opener=window;return false;">Live Chat</a> </div> </div> </body> </html>