43-54. Assurance fund not liable for breach of trust; limit of recovery.
The assurance fund shall not be liable to pay any loss, damage or deprivation occasioned by a breach of trust, whether expressed, constructive or implied, by any registered owner who is a trustee, or by the improper exercise of any power of sale in a mortgage or deed of trust. Nor shall any plaintiff recover as compensation under the provisions of this Chapter more than the fair market value of the land at the time when he suffered the loss, damage or deprivation thereof. (1913, c. 90, s. 38; C.S., s. 2427.)
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.