The Auctioneer’s Licensing Board may impose a civil penalty or deny, suspend, refuse to renew, or revoke the license of any auctioneer or auction house owner for any of the following causes:

1. (1) For providing false or fraudulent information on an application;
2. (2) For obtaining a license through false or fraudulent representation;
3. (3) For making any substantial misrepresentation in an application for a license or renewal of license;

4. (4) For pursuing a continued and flagrant course of misrepresentation or making false promises through:

   1. (A) Agents;
   2. (B) Advertising; or
   3. (C) Otherwise;
5. (5) For failing to account for or remit, within ten (10) business days, any money belonging to others that comes into his or her possession and for commingling funds of others with his or her own or failing to keep such funds of others in an escrow or trustee account;
6. (6) For conviction in a court of competent jurisdiction of this state or any other jurisdiction of a felony listed under Arkansas Code § 17-3-102;

7. (7) If the auctioneer/auction house owner demonstrates:

   1. (A) Bad faith;
   2. (B) Dishonesty;
   3. (C) Incompetency;
   4. (D) Untruthfulness; or
   5. (E) Deceptive practices;
8. (8) For any violation of the Auctioneer’s Licensing Act, Arkansas Code § 17-17-101 et seq., or of any rule of the board;
9. (9) For a failure of a licensee to provide to the board any change of business address within thirty (30) days of such change;
10. (10) For failure to renew a license within the thirty-day grace period;
11. (11) For failing to enter into a written contract with the seller and furnish voluntarily to the seller at the time of execution copies of all written instruments prepared by the auctioneer/auction house owner, including the contract;
12. (12) For any other conduct that constitutes improper, fraudulent, or dishonest dealings, to include falsely accusing any auctioneer or auction house owner;
13. (13) For failing to complete or submit the continuing education requirements as specified by this subpart and the rules adopted by the board; or
14. (14) Submitting false information as to the receipt of continuing education.