<?xml version='1.0' encoding='utf-8'?>
<section article="gbo" article_name="Business Occupations and Professions" number="17-402" title_number="17" title_name="Real Estate Brokers" subtitle_number="4" subtitle_name="Real Estate Guaranty Fund">
  <level label="a">
    <text>The Commission shall:</text>
    <level label="1">
      <text>establish a Real Estate Guaranty Fund; and</text>
    </level>
    <level label="2">
      <text>maintain the Guaranty Fund at a level of at least $250,000.</text>
    </level>
  </level>
  <level label="b">
    <level label="1">
      <text>The Commission shall deposit all money collected to the credit of the Guaranty Fund with the State Treasurer for placement into a special account.</text>
    </level>
    <level label="2">
      <level label="i">
        <text>The State Treasurer may invest or reinvest money in the Guaranty Fund in the same manner as money in the State Retirement and Pension System.</text>
      </level>
      <level label="ii">
        <text>The investment earnings shall be:</text>
        <level label="1">
          <text>credited to the Guaranty Fund; and</text>
        </level>
        <level label="2">
          <text>available for the same purposes as the money deposited into the Guaranty Fund.</text>
        </level>
      </level>
    </level>
  </level>
  <level label="c">
    <text>The Commission may adopt regulations for the administration of a Guaranty Fund.</text>
  </level>
</section>
