SB3498 amends the Auction and Estate Sale License Act to redefine estate sales and establish licensing requirements for estate sale licensees.
SB3498 amends the Auction and Estate Sale License Act to redefine "estate sale" as the sale of personal property for a principal of an estate, conducted on premises or online, where items are offered to the public at posted, fixed prices. The bill establishes licensing requirements for estate sale licensees, including application procedures, fees, and bond requirements. It also prohibits estate sale licensees from conducting competitive bidding and mandates that high-value items be co-signed to a licensed auctioneer.
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- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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