HOUSE BILL REPORT

SSB 5561

As Amended by the House

BYSenate Committee on Commerce & Labor (originally sponsored by Senators Warnke, Barr, Smitherman, Lee, Wojahn and Newhouse)

Eliminating double bonding requirements for auctioneers.

House Committe on Commerce & Labor

Majority Report:  Do pass with amendments.  (11)

      Signed by Representatives Wang, Chair; Cole, Vice Chair; Fisch, Fisher, R. King, O'Brien, Patrick, Sanders, Sayan, C. Smith and Walker.

House Staff:Joan Elgee (786-7166)

AS PASSED HOUSE APRIL 9, 1987

BACKGROUND:

Auctioneers and auction companies are each required to obtain a license and file a bond or alternative security with the Department of Licensing.

SUMMARY:

If an auction company is a sole proprietorship or a partnership and files the required bond with the Department of Licensing, the sole proprietor and individual partners are no longer required to obtain separate bonds.  If the sole proprietors and partners who are auctioneers are licensed, the bonded auction company need not pay a license fee.

Technical changes are also made.

Fiscal Note:      Requested April 6, 1987.

House Committee ‑ Testified For:    Senator Barr; and Jeff Parsons, Auctioneers Association of Washington.

House Committee - Testified Against:      None Presented.

House Committee - Testimony For:    The current dual bonding requirements are not necessary to protect the public.

House Committee - Testimony Against:      None Presented.