S.C. Code Regs. § § 14-11
Current through Register Vol. 48, No. 11, November 22, 2024
Section 14-11 - Written Agreements and Escrow Accounts Relating to AuctionsA. The Commission shall have the authority to demand a copy of any written agreement or records of an auction which the licensee is required to maintain by 40-6-290, Code of Laws of South Carolina, 1976, (as amended). If the documents relate to an auction being conducted or to be conducted within ten days of demand, the licensee must produce such documents before the auction can proceed. If the documents relate to any other auction, the licensee must produce such documents within ten days of the demand. Failure to produce such documents in accordance with this regulation shall be grounds for disciplinary action, suspension or revocation of the license.B. The Commission shall have the authority to demand copies of escrow account records as required to be maintained by 40-6-300. The licensee must produce such records within 10 days of the demand. Failure to produce such escrow records in accordance with this regulation shall be grounds for disciplinary action, suspension or revocation of the license.Amended by State Register Volume 25, Issue No. 5, Part 2, eff May 25, 2001; State Register Volume 45, Issue No. 05, eff. 5/28/2021.