43-51. Satisfaction by third person or by Treasurer.
If there are defendants other than the State Treasurer, and judgment is rendered in favor of the plaintiff and against the Treasurer and some or all of the other defendants, execution shall first be issued against the other defendants, and if such execution is returned unsatisfied in whole or in part, and the officer returning the same shall certify that it cannot be collected from the property and effects of the other defendants, or if the judgment be against the Treasurer only, the clerk of the court shall certify the amount due on the execution to the State Treasurer, and the same shall be paid. In all such cases the Treasurer may employ counsel who shall receive reasonable compensation for his services from the assurance fund. (1913, c. 90, s. 35; C.S., s. 2424; 1993, c. 257, s. 1.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 43 - Land Registration
§ 43-49 - Assurance fund provided; investment.
§ 43-50 - Action for indemnity.
§ 43-51 - Satisfaction by third person or by Treasurer.
§ 43-52 - Payment by Treasurer, if assurance fund insufficient.
§ 43-53 - Treasurer subrogated to right of claimant.
§ 43-54 - Assurance fund not liable for breach of trust; limit of recovery.