MS HB1165

Reenacts sections 73-4-1 through 73-4-51 of the Mississippi Code establishing the Mississippi Auctioneers License Act, which regulates auctioneer and auction firm licensing and operations.

Creates a five-member Mississippi Auctioneer Commission appointed by the Governor, with one member from each congressional district, to administer licensing, set fees, investigate complaints, and enforce disciplinary actions.

Requires auctioneers and auction firm operators to obtain licenses, complete approved auctioneering school, pass examinations, and maintain $10,000 surety bonds; establishes license fees up to $200.00 biennially.

Sets standards for auctioneer conduct including written contracts with sellers/consignors, proper accounting of funds within five business days, placement of proceeds in escrow accounts, and prohibitions on false bidders and misleading advertising.

Extends the repeal date of the Auctioneers License Act from July 1, 2013 to July 1, 2016, allowing the regulatory framework to continue operating.