Established as a special trust fund administered without appropriation for payment of claims against licensed auctioneers. Consists of additional license fees and may be invested in the same manner as funds of Employees Retirement System. Income from investments deposited to the fund. 

Executive director of the department may use all funds in excess of $300,000 to:

1. implement the advancement of education and research in the auctioneering profession and the improvement and increased efficiency of the industry;
2. underwrite educational seminars, training centers and other forms of education projects for the use and benefit of licensees;
3. sponsor, contract, and underwrite all other educational and research projects advancing the auctioneer profession in this state; and
4. cooperate with associations of auctioneers and other groups for the education and advancement of the auctioneer profession in this state.

H.B. 3038, 83rd Leg., R.S. increased from $250,000 to $300,000 the threshold which must be met before the executive director may spend amounts under 1802.156.