All auction schools and instructors employed or contracted with an auction school shall meet the requirements of this rule.
(A) Auction schools shall maintain documentation of the qualifications of every instructor who taught a course session at their school for a period of ten years.
(B) Each instructor shall possess at least one of the following minimum requirements:
(1) A minimum of five years of experience as an instructor at an auction school approved by the commission prior to this rule;
(2) A degree from an accredited college or university with a minimum of two years experience in the subject matter to be taught;
(3) A minimum of five years experience in the auction business or related field of expertise;
(4) A minimum of five years as an auctioneer in good standing with licensing authority;
(5) A juris doctor or equivalent degree from an accredited law school, and a minimum of two years experience in the subject matter to be taught; or
(6) A representative from any state, local, or federal agency having jurisdiction of an auction related matter.
(C) An auction school is prohibited from hiring or retaining in its employ an instructor who:
(1) Has had a professional license that has been revoked or is currently in a suspended status by any jurisdiction; or
(2) In the past ten years, has been convicted of a crime involving theft, fraud, or moral turpitude or a crime which has a direct bearing on the individual's ability to competently instruct, including, but not limited to, violations of auction laws and regulations or abuse of fiduciary responsibilities.
(D) The department shall notify an auction school of any disciplinary action it takes against an instructor within thirty days of the completion of all administrative proceedings and appeals arising therefrom.
(E) The auction school shall notify the commission within fifteen days of the termination of any instructor who no longer meets the qualifications established in this rule.