SECTION 420.5061. Transfer of agency assets and liabilities.
Latest version.
1The corporation is the legal successor in all respects to the 12113agency, is obligated to the same extent as the 22123agency under any agreements existing on December 31, 1997, and is entitled to any rights and remedies previously afforded the 43144agency by law or contract, including specifically the rights of the 55156agency under chapter 201 and part VI of chapter 159. Effective January 1, 1998, all references under Florida law to the 77178agency are deemed to mean the corporation. The corporation shall transfer to the General Revenue Fund an amount which otherwise would have been deducted as a service charge pursuant to s. 109215.20(1)110if the Florida Housing Finance Corporation Fund established by s. 120420.508(5), 121the State Apartment Incentive Loan Fund established by s. 130420.5087(7), 131the Florida Homeownership Assistance Fund established by s. 139420.5088(4), 140the HOME Investment Partnership Fund established by s. 148420.5089(1), 149and the Housing Predevelopment Loan Fund established by s. 158420.525(1)159were each trust funds. For purposes of s. 167112.313, 168the corporation is deemed to be a continuation of the 1781179agency, and the provisions thereof are deemed to apply as if the same entity remained in place. Any employees of the 2001201agency and 2031204agency board members covered by s. 210112.313(9)(a)6211. shall continue to be entitled to the exemption in that subparagraph, notwithstanding being hired by the corporation or appointed as board members of the corporation.
