The Commission proposes to review the rule to determine if changes are necessary.  

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    DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION

    Florida Real Estate Commission

    RULE NO.: RULE TITLE:

    61J2-14.008 Definitions

    PURPOSE AND EFFECT: The Commission proposes to review the rule to determine if changes are necessary.

    SUBJECT AREA TO BE ADDRESSED: Definitions.

    SPECIFIC AUTHORITY: 475.05 FS.

    LAW IMPLEMENTED: 475.25(1)(k) FS.

    IF REQUESTED IN WRITING AND NOT DEEMED UNNECESSARY BY THE AGENCY HEAD, A RULE DEVELOPMENT WORKSHOP WILL BE NOTICED IN THE NEXT AVAILABLE FLORIDA ADMINISTRATIVE WEEKLY.

    THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE DEVELOPMENT AND A COPY OF THE PRELIMINARY DRAFT IS: Lori Crawford, Deputy Clerk, Division of Real Estate, 400 West Robinson Street, Suite N801, Orlando, Florida 32801

     

    THE PRELIMINARY TEXT OF THE PROPOSED RULE DEVELOPMENT IS:

     

    61J2-14.008 Definitions.

    (1)(a) through (1)(b) No change.

    (2)(a) “Trust” or “escrow” account means an account in a bank or trust company, title company having trust powers, credit union, or a savings and loan association within the State of Florida. Only funds described in this rule shall be deposited in trust or escrow accounts. No personal funds of any licensee shall be deposited or intermingled with any funds being held in escrow, trust or on condition except as provided in subsection 61J2-14.010(2), F.A.C.

    (b) When escrow funds are placed with a title company or an attorney the licensee shall indicate on the sales contract the name and address of said entity. The licensee shall obtain and retain written verification of said deposit upon delivery of the funds to the title company or attorney.

    (3) No change.

    Specific Authority 475.05 FS. Law Implemented 475.25(1)(k) FS. History–New 1-1-80, Formerly 21V-14.08, Amended 10-13-88, 12-29-91, 7-20-93, Formerly 21V-14.008, Amended 7-5-95,________.

Document Information

Subject:
Definitions.
Purpose:
The Commission proposes to review the rule to determine if changes are necessary.
Rulemaking Authority:
475.05 FS.
Law:
475.25(1)(k) FS.
Contact:
Lori Crawford, Deputy Clerk, Division of Real Estate, 400 West Robinson Street, Suite N801, Orlando, Florida 32801
Related Rules: (1)
61J2-14.008. Definitions