Section SPS 125.06 - Opening and closing trust accounts(1) The department may not require an auctioneer or auction company to open a trust account before the auctioneer or auction company receives trust funds which must be deposited, unless the department finds, in a specific case, that an earlier opening of an account is needed in order to assure compliance with this chapter.(2) An auctioneer or auction company may close a trust account when no trust funds remain in the auctioneer's or auction company's possession.Wis. Admin. Code Department of Safety and Professional Services SPS 125.06
Cr. Register, June, 1995, No. 474, eff. 7-1-95.