eLaws of Florida

  SECTION 494.00173. Mortgage Guaranty Trust Fund; creation.  


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  • 1(1) 2The Mortgage Guaranty Trust Fund is created within, and shall be administered by, the Office of Financial Regulation.
    20(2) 21Funds to be credited to the trust fund shall consist of the fee imposed pursuant to s. 38494.00172 39on loan originators, mortgage brokers, and mortgage lenders licensed under this chapter. Moneys in the trust fund shall be used to pay claims against loan originators, mortgage brokers, and mortgage lenders pursuant to s. 73494.0017274.
    75(3) 76Notwithstanding s. 78216.301 79and pursuant to s. 83216.351, 84any balance in the trust fund at the end of any fiscal year shall remain in the trust fund at the end of the year and shall be available for carrying out the purposes of the trust fund.
History.-s. 1, ch. 2010-135; s. 2, ch. 2013-11.