93A-23. Subrogation of rights.
When the Commission has paid from the Real Estate Education and Recovery Fund any sum to the judgment creditor, the Commission shall be subrogated to all of the rights of the judgment creditor to the extent of the amount so paid and the judgment creditor shall assign all right, title, and interest in the judgment to the extent of the amount so paid to the Commission and any amount and interest so recovered by the Commission on the judgment shall be deposited in the Real Estate Education and Recovery Fund. (1979, c. 614, s. 1; 1983, c. 81, s. 2; 1987, c. 516, s. 15; 2001-487, s. 23(g); 2011-217, s. 16.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 93A - Real Estate License Law
Article 2 - Real Estate Recovery Fund.
§ 93A-16 - Real Estate Education and Recovery Fund created; payment to fund; management.
§ 93A-17 - Grounds for payment; notice and application to Commission.
§ 93A-18 - Hearing; required showing.
§ 93A-19 - Response and defense by Commission and judgment debtor; proof of conversion.
§ 93A-20 - Order directing payment out of fund; compromise of claims.
§ 93A-21 - Limitations; pro rata distribution; attorney fees.
§ 93A-22 - Repayment to fund; automatic suspension of license.
§ 93A-23 - Subrogation of rights.