South Carolina General Assembly
116th Session, 2005-2006

Download This Bill in Microsoft Word format

Indicates Matter Stricken
Indicates New Matter

S. 634

STATUS INFORMATION

General Bill
Sponsors: Senator Campsen
Document Path: l:\council\bills\nbd\11576ac05.doc

Introduced in the Senate on March 16, 2005
Currently residing in the Senate Committee on Labor, Commerce and Industry

Summary: Auctioneer Deregulation Act

HISTORY OF LEGISLATIVE ACTIONS

     Date      Body   Action Description with journal page number
-------------------------------------------------------------------------------
   3/16/2005  Senate  Introduced and read first time SJ-6
   3/16/2005  Senate  Referred to Committee on Labor, Commerce and Industry 
                        SJ-6

View the latest legislative information at the LPITS web site

VERSIONS OF THIS BILL

3/16/2005

(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

A BILL

TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING CHAPTER 84 TO TITLE 40 SO AS TO ENACT THE "AUCTIONEER DEREGULATION ACT" INCLUDING PROVISIONS TO DEFINE "AUCTIONEERING", PROVISIONS ESTABLISHING MISDEMEANOR OFFENSES AND TREBLE DAMAGES IN CIVIL ACTIONS FOR USING DECEPTIVE STATEMENTS OR FOR OBTAINING FEES UNDER DECEPTIVE CIRCUMSTANCES IN THE PRACTICE OF AUCTIONEERING, AND PROVISIONS REQUIRING A PERSON ENGAGING IN THE PRACTICE OF AUCTIONEERING TO HAVE LIABILITY INSURANCE IN THE AMOUNT OF ONE HUNDRED THOUSAND DOLLARS PER OCCURRENCE; AND TO REPEAL CHAPTER 6, TITLE 40, RELATING, AMONG OTHER THINGS, TO THE CREATION, POWERS, AND DUTIES OF THE SOUTH CAROLINA AUCTIONEER'S COMMISSION, THE LICENSURE AND REGULATION OF AUCTIONEERS, AND THE ESTABLISHMENT AND OPERATION OF THE AUCTIONEER RECOVERY FUND.

Whereas, the General Assembly recognizes that the practice of auctioneering is potentially harmful to the public in that existing common law and statutory causes of civil action or criminal prohibitions are not sufficient to eradicate existing harm or prevent potential harm.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION    1.    This act may be cited as the "Auctioneer Deregulation Act".

SECTION    2.    Title 40 of the 1976 Code is amended by adding:

"CHAPTER 84

Auctioneers

Section 40-84-10.    As used in this chapter, 'auctioneering' means conducting or offering to conduct the sale of goods or real estate by means of exchanges between an auctioneer as agent for the seller and members of an audience, the exchanges consisting of a series of invitations for offers made by the auctioneer, offers by members of the audience, and the acceptance by the auctioneer of the highest or most favorable offer.

Section 40-84-20.    (A)    A person who uses a deceptive statement in a document related to the practice of auctioneering or who practices auctioneering without appropriate insurance coverage is guilty of a Class C misdemeanor and, upon conviction, must be imprisoned not more than one year or fined not more than five thousand dollars, or both, for each violation.

(B)    A person who obtains fees or assists in obtaining fees under deceptive circumstances for the practice of auctioneering is guilty of a Class C misdemeanor and, upon conviction, must be imprisoned not more than one year or fined not more than five thousand dollars, or both, for each violation.

Section 40-84-30.    (A)    A person who relies upon a false, misleading, or deceptive statement in a document related to the practice of auctioneering may recover in a civil action an amount equal to three times the full amount of ascertainable loss of money or property for the reliance, plus costs and reasonable attorney's fees as the court may allow. A civil action brought under this subsection for the recovery of lost money or property must be commenced within three years after the loss.

(B)    A person who pays fees, or who loses goods or the proceeds from the sale of goods, based upon the use or employment of an unfair or deceptive method, act, or practice of auctioneering may recover in a civil action an amount equal to three times the full amount of the fees paid or the lost money or property, plus costs and reasonable attorney's fees as the court may allow. A civil action brought under this subsection for the recovery of fees paid or for the recovery of lost money or property must be commenced within three years after payment or the loss.

Section 40-84-40.    A person or firm that engages in the practice of auctioneering shall maintain appropriate insurance and shall disclose to an owner of property offered for sale by auction in this State proof that the auctioneer or firm has purchased insurance from an acceptable insurer in an amount of not less than one hundred thousand dollars for each occurrence against liability for errors or omissions arising out of the sale by auction and that the insurance is in effect at the time of the auction sale transaction. An 'acceptable insurer' is an insurer that is licensed by the Department of Insurance in this State or approved by the Department of Insurance as a nonadmitted surplus lines carrier for risks located in this State."

SECTION    3.    Chapter 6, Title 40 of the 1976 Code is repealed.

SECTION    4.    The repeal or amendment by this act of any law, whether temporary or permanent or civil or criminal, does not affect pending actions, rights, duties, or liabilities founded thereon, or alter, discharge, release or extinguish any penalty, forfeiture, or liability incurred under the repealed or amended law, unless the repealed or amended provision shall so expressly provide. After the effective date of this act, all laws repealed or amended by this act must be taken and treated as remaining in full force and effect for the purpose of sustaining any pending or vested right, civil action, special proceeding, criminal prosecution, or appeal existing as of the effective date of this act, and for the enforcement of rights, duties, penalties, forfeitures, and liabilities as they stood under the repealed or amended laws.

SECTION    5.    This act takes effect upon approval by the Governor.

----XX----

This web page was last updated on Friday, December 4, 2009 at 3:31 P.M.