recovery fund

recovery fund

A fund maintained by many state real estate commissions to assist in compensating victims who have suffered as a result of a breach of a real estate agent's or broker's responsibilities but were unable to recover because there was no insurance and no discoverable assets.The fund is typically maintained by dues from agents and brokers.

References in periodicals archive ?
Each toy will represent one of the 40,000 lions Disney and the Lion Recovery Fund are working to ensure a future for lions in the wild.
It is expected that even more money held by Doraville is likely to be seized and paid into the Civil Asset Recovery Fund in the future.
The Scottish Government have announced that PS1.85million of their Fire Recovery Fund will be used by Glasgow City Council to provide business rates relief and support recovery efforts.
Rodgers, a native of Butte County, which was one of the most affected areas by the Camp Fire, has tied up with the North Valley Community Foundation to establish the NorCal Fire Recovery Fund to raise money for immediate recovery and the long-term rebuild of the community.
INJURED Belle Vue captain Steve Worrall has thanked fans 'from the bottom of my heart' for their generous donations to his recovery fund as he prepares for the next phase of his treatment.
Nine transfers of scheduled claims were issued early Friday to the entities owed money by Cumulus, directing the companies to New York State's Vendor Recovery Fund.
To help island co-ops get back on their feet, co-ops and members can donate to the CDF Disaster Recovery Fund. CDF will coordinate with local organizations on the island to get assistance to cooperatives in need; 100 percent of the donations will go to disaster recovery.
According to the website, teachers can create projects for the supplies they need to rebuild their classroom and the DonorsChoose.org team will add it to the recovery fund page.
As other celebrities opted to donate money to the Red Cross Harvey Fund, Leo chose the lesser known United Way Harvey Recovery Fund, which will allocate the entire amount for victims of the tropical storm.
The Arkansas Community Foundation on Tuesday announced its Disaster Recovery Fund has been activated in the wake of historic flooding in northeast Arkansas, and the nonprofit has already contributed $10,000 to it.
The Florida Homeowners' Construction Recovery Fund (Fund) was established in 1993 in order "to compensate consumers who suffer monetary damages as a result of certain violations by licensed contractors." (1) The Fund's legislative purpose is to "compensate an aggrieved claimant who contracted for the construction or improvement of the homeowner's residence (2) located within this state and who has obtained a final judgment in a court of competent jurisdiction, was awarded restitution by the Florida Construction Industry Licensing Board (CILB), or received an award in arbitration against a licensee based on specified acts." (3) The CILB is a professional licensing board within the Department of Business and Professional Regulation (DBPR).
12 vetoed HB 3333, which would have created the Appraisal Management Company Recovery Fund to provide restitution to state-certified residential and general appraisers who suffered monetary loss as a result of an appraisal management company ceasing operations in Illinois or determined to be bankrupt.