Question

With regards to the 2003 changes to the Florida Statutes, which of the following limitations has been placed on FREC in the collection of fees for the Recovery Fund? FREC can assess fees:

a) Only once per calendar year
b) Only for licensed brokers
c) Only for specific types of violations
d) Only if the funds are available in the Recovery Fund

Answer 1

The 2003 changes to the Florida Statutes imposed limitations on FREC's collection of fees for the Recovery Fund by only allowing fees to be assessed for specific types of violations.

Step-by-step explanation:

The 2003 changes to the Florida Statutes introduced limitations on the Florida Real Estate Commission (FREC) in the collection of fees for the Recovery Fund. According to these changes, FREC can only assess fees for specific types of violations. This means that the fees are not assessed for every violation, but rather for violations that fall into certain categories defined by the statute.