Sec. 7. An order for payment from the auctioneer recovery fund may not be issued unless the action to recover from the auctioneer recovery fund was commenced within one (1) year after the termination of all proceedings against the licensee for failure to meet the obligations of a licensee under this article and the rules adopted under this article, including appeals and proceedings supplemental to judgment. When any person commences an action for a judgment that may result in an order for payment from the fund, the person shall notify the commission in writing of the commencement of the action.
As added by P.L.256-1987, SEC.4.
Structure Indiana Code
Title 25. Professions and Occupations
Article 6.1. Auctioneers and Auctions
Chapter 8. Auctioneer Recovery Fund
25-6.1-8-1. Establishment of Fund; Administration; Investments
25-6.1-8-2. Surcharge; Formula; Assessment
25-6.1-8-2.1. Reversion of Excess Funds
25-6.1-8-3. Interest Credited; Payment of Expenses
25-6.1-8-4. Claims Against Fund; Applications; Amount of Loss; Limitation on Recovery
25-6.1-8-6. Agents for Service of Process
25-6.1-8-7. Limitation of Actions; Notice of Commencement of Action
25-6.1-8-8. Commission as Defendant; Hearings; Order of Payment of Claim
25-6.1-8-10. Suspension of Judgment Debtor's License; Repayment by Licensee; Interest
25-6.1-8-12. Expenditure of Interest
25-6.1-8-13. Attorney General; Assistance to Commission; Expenses