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Current as of January 01, 2025 | Updated by Findlaw Staff
The commission shall maintain the Real Estate Guaranty Fund at a level not to exceed five hundred thousand dollars and to this intent moneys received under section 20-324b shall be credited to said fund whenever the fund balance is below five hundred thousand dollars. Any such moneys may be invested or reinvested in the same manner as funds of the state employees retirement system. The interest arising from such investments shall be credited to the Real Estate Guaranty Fund whenever the fund balance is below five hundred thousand dollars, and to the General Fund whenever the fund balance is equal to or greater than five hundred thousand dollars. Any moneys received under section 20-324b not required to maintain the Real Estate Guaranty Fund balance shall be deposited to the General Fund. All moneys in the Real Estate Guaranty Fund in excess of five hundred thousand dollars, shall be transferred by the State Treasurer to the General Fund.
Cite this article: FindLaw.com - Connecticut General Statutes Title 20. Professional and Occupational Licensing, Certification, Title Protection and Registration. Examining Boards § 20-324c. Level of guaranty fund. Credits to guaranty fund and General Fund - last updated January 01, 2025 | https://codes.findlaw.com/ct/title-20-professional-and-occupational-licensing-certification-title-protection-and-registration-examining-boards/ct-gen-st-sect-20-324c/
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