TN Auctioneer Practice Questions - Tennessee Licensed Auctioneer Exam

Under Tennessee law, what happens to undistributed trust account funds when an auctioneer's license is revoked?

The funds become the property of the auctioneer The Tennessee Auctioneer Commission can take steps to protect and distribute the funds to rightful owners The funds are forfeited to the state The funds remain in the account indefinitely

Correct Answer:

The Tennessee Auctioneer Commission can take steps to protect and distribute the funds to rightful owners

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