Terms Used In Florida Statutes 475.4835

• Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
• Commission: means the Florida Real Estate Commission. See Florida Statutes 475.01
• Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. ^{Source: FDIC}