Thank you for publishing proposed amendments to the Regulations of the Virginia Auctioneer Board.

A review of the proposed amendments has revealed that the proposals are restrictive in nature and likely out of date and obsolete because they specify only funds transferred by credit cards.

The Board should reconsider the issue and revise the amendments to cover other commonly accepted forms of electronic fund transfer.

Additionally, any proposed changes should further clarify the regulations requiring the deposit of auction proceeds in an auction escrow account.