(a) The Arkansas Real Estate Commission shall set the fees at such amount as it deems necessary to initially establish the Real Estate Recovery Fund and to reestablish the fund at the beginning of each annual renewal period. However, the fees shall not exceed the limits set forth in § 17-42-405.
(b) The assets of the fund may be invested and reinvested as the commission may determine, with the advice of the State Board of Finance.
(c) Any amounts in the fund may be used by the commission for the following additional purposes:
(1)
(A) To fund educational seminars and other forms of educational projects for the use and benefit generally of licensees.
(B) The production and distribution of informational literature of an educational nature shall qualify as educational projects;
(2) To fund real estate chairs or courses at various state institutions of higher learning for the purpose of making such courses available to licensees and the general public;
(3) To fund research projects in the field of real estate; and
(4) To fund any and all other educational and research projects of a similar nature having to do with the advancement of the real estate field in Arkansas.
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