(a)        The Commission shall have the following powers and duties:

(1)        To receive and act upon applications for licenses.

(2)        To issue licenses.

(3)        To deny, suspend, and revoke licenses pursuant to N.C. Gen. Stat. § 85B-8

(4)        To issue declaratory rulings.

(5)        To adopt rules for auctioneers and auctions that are consistent with the provisions of this Chapter and the General Statutes.

(b)        The Commission may assess a civil penalty not in excess of two thousand dollars ($2,000) for acts prohibited in N.C. Gen. Stat. § 85B-8 All civil penalties collected by the Commission shall be remitted to the school fund of the county in which the violation occurred. Before imposing and assessing a civil penalty and fixing the amount thereof, the Commission shall, as a part of its deliberations, take into consideration the following factors:

(1)        The nature, gravity, and persistence of the particular violation.

(2)        The appropriateness of the imposition of a civil penalty when considered alone or in combination with other punishment.

(3)        Whether the violation was willful.

(4)        Any other factors that would tend to mitigate or aggravate the violations found to exist.

(c)        The Commission shall have the power to acquire, hold, rent, encumber, alienate, and otherwise deal with real property in the same manner as a private person or corporation, subject only to approval of the Governor and the Council of State. Collateral pledged by the Commission for an encumbrance is limited to the assets, income, and revenues of the Commission.

(d)       The Commission may purchase, rent, or lease equipment and supplies and purchase liability insurance or other insurance to cover the activities of the Commission, its operations, or its employees. (1999-142, s. 2; 1999-456, s. 23; 2001-198, s. 3.)