§ 38-11-201. Residence Lien Recovery Fund.

(1) There is created an expendable special revenue fund called the "Residence Lien Recovery Fund."

(2)

(a) The fund consists of all amounts collected by the division in accordance with Section 38-11-202.

(b)

(i) The division shall deposit the funds in an account with the state treasurer.

(ii) The division shall record the funds in the Residence Lien Recovery Fund.

(c) The fund shall earn interest.

(3) The division shall employ personnel and resources necessary to administer the fund and shall use fund money in accordance with Sections 38-11-203 and 38-11-204 and to pay the costs charged to the fund by the attorney general.

(4) Costs incurred by the division for administering the fund shall be paid out of fund money.

(5) The Division of Finance shall report annually to the Legislature, the division, and the board. The report shall state:

(a) amounts received by the fund;

(b) disbursements from the fund;

(c) interest earned and credited to the fund; and

(d) the fund balance.

(6)

(a) For purposes of establishing and assessing fees under Section 63J-1-504, the provisions of this chapter are considered a new program for fiscal year 1995-96.

(b) The department shall submit its fee schedule to the Legislature for its approval at the 1996 Annual General Session.

Amended by Chapter 400, 2013 General Session