What happens to excess funds over $200,000 in the North Carolina auctioneer fund?

In North Carolina, the Auctioneer Fund is designed to support the profession and its members. When there are excess funds over $200,000, these funds are allocated to further the growth and education of the auctioneer profession. This allocation serves several purposes, including enhancing training programs, promoting best practices within the field, and providing resources that aim to elevate the standards and operational effectiveness of auctioneers.

Utilizing excess funds in this way helps to ensure that auctioneers remain well-equipped and knowledgeable about the latest trends, laws, and techniques in the industry, ultimately benefiting both auctioneers and their clients. By focusing on professional growth and education, the fund directly contributes to a more robust and ethical auctioneering practice in North Carolina.