Sec. 7. An order for payment from the real estate recovery fund may not be issued unless the action to recover from the real estate recovery fund was commenced within one (1) year after the termination of all proceedings against the licensee for embezzlement of money or property, or unlawfully obtaining money or property by false pretenses, use of a device, trickery, or forgery, 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.
Ind. Code § 25-34.1-7-7
Limitation of actions; notice of commencement of action
Known as the Real Estate Broker Licensing Act
The act spans §§ 25-34.1-10-0.5 to 25-34.1-9-9 (164 sections).
As added by P.L.255-1987, SEC.6.
Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.