The Auctioneer Education and Recovery Fund is established by the State of Texas and managed by TDLR to provide compensation to individuals who are harmed by the actions of a licensed auctioneer. To ensure compliance with Auctioneer law and rules, TDLR reviews the balance of the Auctioneer Education and Recovery Fund each year to determine if additional fees are needed to maintain the fundโs minimum balance of $350,000.
If the balance in the fund on December 31 is less than $350,000, each license holder is required by Auctioneer law to pay an additional $50 fee at their next license renewal (or a pro rata share of the amount necessary to obtain a balance in the fund of $350,000).
If the additional $50 fee is assessed, it is automatically added to the license renewal fee.
For 2023, the fund balance on December 31, 2022 was $340,828.29, requiring TDLR to assess the additional $50 fee for each renewal in 2023.
- Statute for the Auctioneer Education and Recovery Fund, Section 1802.151-1802.156.
- Rules for the Auctioneer Education and Recovery Fund.
- Additional information about the Fund can be found on the Procedures for filing a claim against the Auctioneer Education and Recovery Fund
Questions? Contact TDLR