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17-17-409. Subrogation — Suspension of license.
Arkansas Code — all titles (historical 2020) · legal_authorities
17-17-409. Subrogation — Suspension of license.
Upon the payment by the Auctioneer's Licensing Board of any amount of money under § 17-17-405:
(1) The recipients of the payment, to the extent of the payment, shall assign to the board all rights and claims that they may have against the licensee involved;
(2) The board shall be subrogated to all of the rights of the recipients of the payment to the extent of the payment; and
(3) In addition to any other disciplinary action taken against the licensee on the merits of the hearing, his or her license shall be immediately suspended until he or she has completely reimbursed the board for the payment plus interest at a rate to be determined by the board.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 17-17-409
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:17-17-409
Source file: gov.ar.code.title.17.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 4bb8fe7547a60755419773faf6825b2c38b14704d053bda911158bf057761dc3
Source location: content.xml paragraph 3876
Stored source content
17-17-409. Subrogation — Suspension of license.
Upon the payment by the Auctioneer's Licensing Board of any amount of money under § 17-17-405:
(1) The recipients of the payment, to the extent of the payment, shall assign to the board all rights and claims that they may have against the licensee involved;
(2) The board shall be subrogated to all of the rights of the recipients of the payment to the extent of the payment; and
(3) In addition to any other disciplinary action taken against the licensee on the merits of the hearing, his or her license shall be immediately suspended until he or she has completely reimbursed the board for the payment plus interest at a rate to be determined by the board.
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Arkansas Code — all titles (historical 2020) · legal_authorities
17-17-405. Disciplinary hearing — Recovery procedure.
(a)(1) In any disciplinary hearing before the Auctioneer's Licensing Board that involves a licensee who has allegedly violated any provision of this chapter, the board shall first determine whether a violation has occurred.
(2) If so, the board shall then determine the amount of damages, if any, suffered by the aggrieved party or parties. However, damages shall be limited to actual damages in accordance with § 17-17-407.
(3) The board shall then direct the licensee to pay that amount to the aggrieved party or parties.
(4)(A) If that amount has not been paid within thirty (30) calendar days following entry of the board's final order in the matter and the order has not been appealed to the circuit court, then upon request the board shall pay from the Auctioneer Education and Recovery Fund to the aggrieved party or parties the amount specified.
(B) However, the board shall not:
(i) Pay in excess of fifteen thousand dollars ($15,000) for any one (1) violation or continuing series of violations regardless of the number of licensees who participated in the violation or continuing series of violations; or
(ii) Pay an amount in excess of the fund balance.
(b) The question of whether certain violations constitute a continuing series of violations shall be a matter solely within the discretion and judgment of the board.
(c) Nothing within this subchapter shall obligate the fund for any amount in excess of a total of fifteen thousand dollars ($15,000) with respect to:
(1) The acts of any one (1) licensee; or
(2) Any group of related claims.
(d) Whether a claim is one (1) of a group of related claims shall be a matter solely within the discretion and judgment of the board.
(e) When unsatisfied or pendin
Source: Arkansas Code — historical release 78 (November 6, 2020) · 17-17-405
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 17-17-405. This identifies an authority to review, not proof of applicability.