Florida Statutes 475.4835 – Commission powers upon notification of commencement of action
Current as of: 2023 | Check for updates
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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
When the commission receives certified notice of any action, as required by s. 475.483(1)(b), the commission may intervene, enter an appearance, file an answer, defend the action, or take any action it deems appropriate and may take recourse through any appropriate method of review on behalf of the State of Florida.