43-53. Treasurer subrogated to right of claimant.
In every case of payment by the Treasurer from the assurance funds under the provisions of this Chapter the Treasurer shall be subrogated to all the rights of the plaintiff against all and every other person or property or securities to a trustee, or by the improper exercise of any power of sale in benefit of the assurance fund. (1913, c. 90, s. 37; C.S., s. 2426.)
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.