Code of Maine Rules
02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION
302 - BOARD OF LICENSURE OF AUCTIONEERS
Chapter 50 - MINIMUM STANDARDS OF PRACTICE
Section 302-50-2 - Duty to Consignors
Universal Citation: 02 ME Code Rules ยง 302-50-2
Current through 2024-13, March 27, 2024
A. The auctioneer's primary duty is the fiduciary relationship to the consignor and the auctioneer is expected to provide the highest level of competent service to all consignors.
B. The auctioneer has the duty to seek the highest value for each item sold based upon full disclosure regarding that item.
C. The auctioneer has a duty not to disclose any confidential information from the consignor or a potential consignor, whether or not hired by that consignor.
Disclaimer: These regulations may not be the most recent version. Maine may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
