Florida § 420.5061 Transfer of1agency assets and liabilities

Florida Statutes

§ 420.5061 — Transfer of1agency assets and liabilities

Florida § 420.5061

TitleXXX

Ch. 420HOUSING

This text of Florida § 420.5061 (Transfer of1agency assets and liabilities) is published on Counsel Stack Legal Research, covering Florida primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Fla. Stat. § 420.5061 (2026).

Text

The corporation is the legal successor in all respects to the 1 agency, is obligated to the same extent as the 1 agency under any agreements existing on December 31, 1997, and is entitled to any rights and remedies previously afforded the 1 agency by law or contract, including specifically the rights of the 1 agency under chapter 201 and part VI of chapter 159. Effective January 1, 1998, all references under Florida law to the 1 agency 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. 215.20(1) if the Florida Housing Finance Corporation Fund established by s. 420.508(5), the State Apartment Incentive Loan Fund established by s. 420.5087(7), the Florida Homeowne

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The corporation is the legal successor in all respects to the 1 agency, is obligated to the same extent as the 1 agency under any agreements existing on December 31, 1997, and is entitled to any rights and remedies previously afforded the 1 agency by law or contract, including specifically the rights of the 1 agency under chapter 201 and part VI of chapter 159. Effective January 1, 1998, all references under Florida law to the 1 agency 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. 215.20(1) if the Florida Housing Finance Corporation Fund established by s. 420.508(5), the State Apartment Incentive Loan Fund established by s. 420.5087(7), the Florida Homeownership Assistance Fund established by s. 420.5088(4), the HOME Investment Partnership Fund established by s. 420.5089(1), and the Housing Predevelopment Loan Fund established by s. 420.525(1) were each trust funds. For purposes of s. 112.313, the corporation is deemed to be a continuation of the 1 agency, and the provisions thereof are deemed to apply as if the same entity remained in place. Any employees of the 1 agency and 1 agency board members covered by s. 112.313(9)(a)6. 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.