44-1531.02. Consumer restitution and remediation revolving fund; subaccounts
A. The consumer restitution and remediation revolving fund is established to be administered by the attorney general under the conditions and for the purposes provided by this section. On notice from the attorney general, the state treasurer shall invest and divest monies in the fund as provided by section 35-313, and monies earned from investment shall be credited to the appropriate subaccount of the fund.
B. The consumer restitution subaccount of the consumer restitution and remediation revolving fund is established consisting of monies collected or received by the attorney general as the result of an order of a court of competent jurisdiction, or as the result of a settlement or compromise, for the purpose of compensating specific, identifiable persons, including this state, for economic loss resulting from violations or alleged violations of consumer protection laws. The attorney general shall administer the subaccount. Monies in the subaccount are continuously appropriated. Monies in the subaccount are exempt from the provisions of section 35-190, relating to lapsing of appropriations. The attorney general shall distribute monies in the subaccount to specific, identifiable persons as directed by a court order. The attorney general may distribute any unexpended funds in the consumer restitution subaccount to the consumer protection-consumer fraud revolving fund established by section 44-1531.01.
C. The consumer remediation subaccount of the consumer restitution and remediation revolving fund is established consisting of monies collected or received by the attorney general from a party as the result of an order of a court of competent jurisdiction, or as the result of a settlement or compromise, to rectify violations or alleged violations of consumer protection laws, other than monies collected for the benefit of specific, identifiable persons and monies for investigative or court costs, attorney fees, civil penalties or other monies recovered as a result of the enforcement of consumer protection laws deposited in the consumer protection-consumer fraud revolving fund pursuant to section 44-1531.01. The attorney general shall administer the subaccount. Monies in the subaccount up to the amount of three million five hundred thousand dollars annually are continuously appropriated. Any amounts in excess of three million five hundred thousand dollars are subject to legislative appropriation. Monies in the subaccount are exempt from the provisions of section 35-190, relating to lapsing of appropriations. The attorney general may expend monies in the subaccount for programs, including consumer fraud education programs, that are intended to rectify violations or alleged violations of consumer protection laws. The attorney general may expend monies in the consumer remediation subaccount for operating expenses incurred by the department of law in administering or implementing programs intended to rectify violations or alleged violations of consumer protection laws. The attorney general shall submit an expenditure plan to the joint legislative budget committee for review before expending any monies in the subaccount.
D. On or before January 15, April 15, July 15 and October 15, the attorney general shall file with the governor, with copies to the director of the department of administration, the president of the senate, the speaker of the house of representatives, the secretary of state and the staff director of the joint legislative budget committee, a full and complete account of the receipts and disbursements from the fund by subaccount in the previous calendar quarter.
Section: Previous 44-1526 44-1527 44-1528 44-1529 44-1530 44-1531 44-1531.01 44-1531.02 44-1532 44-1533 44-1534 44-1551 44-1552 44-1553 44-1554 NextLast modified: October 13, 2016