61G2-5.001: Requirements for Conducting an Auction
PURPOSE AND EFFECT: The Board proposes this rule amendment to amend the statute number referenced and delete unnecessary language.
SUMMARY: This rule amendment will amend the statute number referenced and delete unnecessary language.
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 FAW.
THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE IS: Anthony Spivey, Executive Director, Board of Auctioneers, 1940 North Monroe Street, Tallahassee, FL 32399-0754
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 (c) No change;
(d) Comply with Section 468.338(10), Florida Statutes the provisions of Rule 61G2-5.003, F.A.C., regarding clients’ funds and auction proceeds.
(e) No change.
Rulemaking Specific 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,_________.