Wis. Admin. Code Department of Safety and Professional Services § 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.
Notes
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