Statutes > Arkansas Statutes > Title 17 - Professions, Occupations, and Businesses > Subtitle 2 - Nonmedical Professions > Chapter 17 - Auctioneers > Subchapter 4 - Auctioneer Education and Recovery Fund > § 17-17-401 - Auctioneer Education and Recovery Fund.

§ 17-17-401 - Auctioneer Education and Recovery Fund.

17-17-401. Auctioneer Education and Recovery Fund.

(a) The Auctioneer's Licensing Board shall establish a separate high interest bearing account in a bank located in this state. The account shall be referred to as the "Auctioneer Education and Recovery Fund" and shall only be used for education and recovery purposes as detailed in this chapter.

(b) The fees collected under 17-17-404 shall be deposited into the Auctioneer Education and Recovery Fund.