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Section 1 establishes a bonding requirement for estate sale conductors.
Subdivision 1 provides definitions for purposes of the bill.
Subdivision 2 requires an estate sale conductor to post a corporate surety bond of $20,000 with the county in which an estate sale will take place, or in which the estate sale conductor resides, prior to entering an agreement to conduct an estate sale. Subdivision applies to an auctioneer who conducts an estate sale on the same basis as any other estate sale conductor.
The bill is effective Jan 1, 2014 and applies to estate sales conducted after that date.
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