AR SB320

Establishes regulatory authority for the Auctioneer's Licensing Board to license and regulate online auctions and estate sales occurring within Arkansas or involving property located in Arkansas.

Expands the definition of "auction" to include in-person and electronic sales, and adds "estate sales" as a new regulatory category requiring licensing and oversight.

Reduces the grace period for license renewal from 120 days to 30 days, with a penalty of two times the normal renewal fee ($100) for late renewals beyond the grace period.

Requires all board fees and penalties to be deposited into the State Treasury rather than designated bank accounts, and places board expenditures under oversight by the Finance Division of the Department of Labor and Licensing.

Removes the requirement for the board director to execute a fidelity bond and eliminates the requirement for the director to serve as board treasurer.