HRS §445-31
Auction license bond requirement
When you get an auction license, you must give the treasurer a bond. The bond amount is $3,000 in Honolulu and $500 elsewhere. The bond ensures you keep records, pay sellers, sell only at auction, and follow auction laws.
The statute, as written — Bond
Every person, upon receiving an auction license, shall give a bond to the treasurer in the penal sum of $3,000, if the license is for the district of Honolulu, and in the penal sum of $500 for other districts, with good and sufficient surety or sureties to be approved by the treasurer, conditioned: (1) That the person will faithfully and truly keep the records required by section 445-30; (2) That the person will faithfully, promptly, and truly account to all persons for whom the person may sell property, and promptly pay to them all sums received by the person for sales of the same, after deducting therefrom the person's commissions and expenses; (3) That the person will not sell goods, wares, merchandise, or other property, except at public auction; (4) That the person will otherwise in all things conform to the laws relating to auctioneers.
Sections this one refers to
§445-30 Auctioneer record books
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