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.
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Terms Used In Indiana Code 25-34.1-7-1
- Commission: means the Indiana real estate commission. See Indiana Code 25-34.1-1-2
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Real estate: means any right, title, or interest in real property. See Indiana Code 25-34.1-1-2
(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.
