Indiana § 25-34.1-7-8 Commission as defendant; hearings; orders directing payment

Indiana Statutes

§ 25-34.1-7-8 — Commission as defendant; hearings; orders directing payment

Indiana § 25-34.1-7-8

Title 25PROFESSIONS AND OCCUPATIONS

Art. 34.1REAL ESTATE BROKERS AND

Ch. 7Real Estate Recovery Fund

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Bluebook

Ind. Code § 25-34.1-7-8 (2026).

Text

(a)When any person files an application for an order directing payment from the real estate recovery fund, the commission shall promptly review and consider the application, and it may issue an order directing payment out of the real estate recovery fund, as provided in section 9 of this chapter, subject to the limitation of section 4 of this chapter, if the commission finds:

(1)that there is no collusion between the judgment creditor and the judgment debtor;

(2)that the judgment creditor is making application not more than one (1) year after the termination of all proceedings in connection with the judgment, including appeals and proceedings supplemental to judgment for collection purposes;

(3)that the judgment creditor has diligently pursued all available creditor's remedies, includi

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(a) When any person files an application for
an order directing payment from the real estate recovery fund, the
commission shall promptly review and consider the application, and it
may issue an order directing payment out of the real estate recovery
fund, as provided in section 9 of this chapter, subject to the limitation
of section 4 of this chapter, if the commission finds:
(1) that there is no collusion between the judgment creditor and
the judgment debtor;
(2) that the judgment creditor is making application not more than
one (1) year after the termination of all proceedings in connection
with the judgment, including appeals and proceedings
supplemental to judgment for collection purposes;
(3) that the judgment creditor has diligently pursued all available
creditor's remedies, including proceedings supplemental, against
the licensee who is the subject of the application filed under
section 4 of this chapter, against all the judgment debtors, and
against all other persons liable to the creditor in the transaction
for which the creditor seeks recovery from the real estate recovery
fund, but that the diligent pursuit did not result in satisfaction of
the judgment;
(4) that the embezzlement of money or property, or the unlawfully
obtaining of money or property by false pretenses, use of a device,
trickery, or forgery, arose directly out of a transaction that
occurred when the judgment debtor was licensed and acted in a
capacity for which a license is required under this article and that
the transaction occurred after December 31, 1987; and
(5) that, in the event of a default judgment or a judgment entered
upon stipulation of the parties, the judgment debtor's acts
constituted embezzlement of money or property, or the unlawful
obtaining of money or property by false pretenses, use of a device,
trickery, or forgery.
(b) A person who is dissatisfied by:
(1) an order issued under subsection (a) directing payment out of
the real estate recovery fund; or
(2) a denial of an application filed under section 4 of this chapter;
may petition for review under IC 4-21.5-3-7.