Indiana Code 25-34.1-2-7. Report of funds; deposit; payment of expenses; fee for investigative fund
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Sec. 7. (a) Except as provided in subsection (b), all funds collected under this article shall, at the end of each month, be reported to the auditor of state and deposited with the treasurer of state for deposit in the general fund. All expenses incurred in the administration of this article shall be paid from the general fund.
(b) The commission shall establish a fee of not more than twenty dollars ($20) for real estate brokers to provide funds for the purpose of administering and enforcing the provisions of this article, including investigating and taking enforcement action against real estate fraud and real estate appraisal fraud. All funds collected under this subsection shall be deposited in the investigative fund established by IC 25-34.1-8-7.5.
As added by P.L.57-2007, SEC.2. Amended by P.L.127-2012, SEC.10.
Terms Used In Indiana Code 25-34.1-2-7
- Appraisal: A determination of property value.
- Commission: means the Indiana real estate commission. See Indiana Code 25-34.1-1-2
- Fraud: Intentional deception resulting in injury to another.
- Month: means a calendar month, unless otherwise expressed. See Indiana Code 1-1-4-5
- Real estate: means any right, title, or interest in real property. See Indiana Code 25-34.1-1-2