WV SB890

Increases the minimum surety bond requirement for auctioneers from $10,000 to $25,000, while maintaining the $5,000 minimum for apprentice auctioneers

Extends the grace period for apprentice auctioneers to continue performing auctions after license expiration from 20 days to 30 days, matching the grace period for licensed auctioneers

Establishes registration requirements for auction firms, including annual renewal, bonding requirements, and written contracts with both sellers and auctioneers

Requires auctioneer contracts to include additional disclosures such as buyer's fees, provisions for unsold or uncollected items, and subcontracting arrangements

Updates definitions to clarify that "auction" includes online, phone, mail, and electronic bidding methods, and adds a definition for "auction firm" as a licensed business entity providing auction services