MI SB1413

Removes the "accredited" requirement for auction school graduation, allowing applicants to complete any auction school acceptable to the board instead of only accredited institutions.

Eliminates the 2-year application deadline following the effective date for experienced auctioneers, allowing indefinite registration of individuals with 3+ years of pre-October 1, 2007 auction experience and 12+ auctions conducted.

Requires auctioneers to provide complete accounting of all presale auction service expenses to clients at closing or termination of transactions, with such money not required to be held in trust accounts.

Expands trust account record-keeping requirements to include documents relating to presale auction services and clarifies that ledgers and journals must be maintained for 3+ years from transaction date.

Adds numbered subsections (6-14) to reorganize existing trust account provisions regarding deposits, disbursements, record-keeping, and inspection authority without substantive changes to those requirements.