Louisiana — Auctioneer (Individual Only) Bond
Prepare the individual auctioneer's Louisiana Board file without substituting the separate auction-business security.
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- Recorded state
- Louisiana
- Bond type
- Auctioneer Bond
- Category
- Business operations & taxes
What this bond does
R.S. 37:3118 describes $10,000 security for an auctioneer or apprentice applicant and separately $25,000 for an auction business. For this individual offering, match the auctioneer named in the actual Board application and use the Board-approved undertaking.
- Who needs it
- An individual auctioneer preparing Louisiana licensing security or its continuation. A company name, ownership interest or business license does not make the individual's instrument the company's bond.
- Who it protects
- The statutory conditions cover the applicant's written auction contracts, legal compliance and proper disposition of specified funds. The bond is payable to the Board for the use, benefit and indemnity of persons suffering the described losses; it is not insurance on the auctioneer's own inventory.
Your bond option
This is the option on record for this bond.
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The bond amount describes the limit of the bond obligation, not the price. A listed amount does not establish what the requesting party requires. The premium is what you pay and must be confirmed for the actual option. An E&O limit, where listed, is separate errors and omissions insurance.
Sources
- Louisiana official2025 auctioneer compilation: R.S.37:3117–3118 (opens in a new tab)Checked October 26, 2026
Have these ready
- Identify the individual auctioneer and actual Board application or renewal.
- Obtain the Board-approved undertaking and applicable sum for that file.
- Coordinate the issued dates with the calendar-year license period.
- Check whether a proper continuation or replacement is needed.
- Keep any company's separate security and reciprocity file distinct.
Questions about this bond
Does my individual bond also satisfy an auction-business request?
Do not assume it does. Section 3118 separately identifies individual/apprentice and auction-business security. Match the named principal and actual Board file instead of treating ownership as automatic company coverage.
Must I buy another instrument at every renewal?
The statute permits a new bond or proper continuation certificate at the beginning of each licensing period and requires uninterrupted security. Check what is already effective and what the Board accepts for the actual renewal.
Does the business reciprocity formula apply automatically to this individual?
No. Section 3118 has distinct individual nonresident and nonresident-owned business provisions. Obtain directions for the individual's actual reciprocity file rather than importing the company's higher-of formula.