MS SB2694

Reenacts the Mississippi Auctioneers License Act (Sections 73-4-1 through 73-4-51) establishing regulatory requirements for auctioneers and auction firms in the state.

Creates a five-member Mississippi Auctioneer Commission appointed by the Governor, with one member from each congressional district, requiring commissioners to be licensed auctioneers with at least five years of experience.

Requires all auctioneers and auction firms to obtain licenses, pass examinations covering ethics, contracts, land economics, and auction procedures, maintain $10,000 surety bonds, and pay examination fees of $100 and biennial license fees up to $200.

Establishes disciplinary procedures allowing the commission to suspend or revoke licenses for violations including false applications, unlicensed bidders, failure to account for funds, fraud, and felony convictions, with fines up to $5,000 per violation.

Extends the repealer date of the Act from July 1, 2013 to July 1, 2017, ensuring continued regulation of the auctioneering profession.