What limits the liability of the Georgia Auction Education, Research, and Recovery Fund?

The limit of liability for the Georgia Auction Education, Research, and Recovery Fund is set at $10,000 per claim. This fund is designed to protect consumers from losses incurred due to the actions of licensed auctioneers. By establishing a specific limit, the fund ensures that there is a defined cap on the amount that can be recovered, providing a balanced approach to consumer protection while also safeguarding the financial stability of the fund itself. This limit is important as it helps maintain a sustainable resource for consumers who may be affected by unethical practices in the auction industry, allowing the system to function effectively over time.