Sec. 1. (a) The real estate recovery fund is established for the purpose set out in this chapter. The fund shall be administered by the real estate commission.
(b) The treasurer of state shall invest the money in the fund not currently needed to meet the obligations of the fund in the same manner as other public funds may be invested. Interest that accrues from these investments shall be deposited in the fund.
(c) Money in the fund at the end of a state fiscal year does not revert to the state general fund, except as provided in section 2.1 of this chapter.
As added by P.L.255-1987, SEC.6. Amended by P.L.143-1990, SEC.9.
Structure Indiana Code
Title 25. Professions and Occupations
Article 34.1. Real Estate Brokers and Salespersons
Chapter 7. Real Estate Recovery Fund
25-34.1-7-1. Establishment of Fund; Administration; Investments
25-34.1-7-2. Surcharge; Formula; Assessment; Application of Section
25-34.1-7-2.1. Reversion of Excess Funds
25-34.1-7-3. Interest on Investments; Payment of Expenses
25-34.1-7-6. Agent for Service of Process
25-34.1-7-7. Limitation of Actions; Notice of Commencement of Action
25-34.1-7-8. Commission as Defendant; Hearings; Orders Directing Payment
25-34.1-7-9. Payment of Claims
25-34.1-7-10. Suspension of Judgment Debtor's License; Repayment of Fund; Interest