A practitioner licensed to practice auctioneering is subject to the disciplinary sanctions under section 12 of this chapter if, after a hearing, the board finds that the practitioner has failed to:

1. (1) account and to make payment under IC 25-6.1-6-2 ; or
2. (2) keep the funds of others separate from the practitioner's own private accounts.

As added by P.L.214-1993, SEC.1.