85B-4.11. Persons ineligible to recover from Fund.
No licensee who suffers the loss of any commission from any transaction in which the licensee was acting in the capacity of an auctioneer, apprentice auctioneer, or auction firm shall be entitled to make application for payment from the Fund for the loss. Likewise, any person who suffers any monetary loss as a result of a joint business venture of any sort with a licensee shall not be entitled to be compensated from the Fund for the loss. (1991 (Reg. Sess., 1992), c. 819, s. 15.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 85B - Auctions and Auctioneers
§ 85B-2 - Activities governed by Chapter.
§ 85B-3 - Auctioneers Commission.
§ 85B-3.1 - Auctioneers Commission; powers and duties.
§ 85B-3.2 - Criminal history record checks of applicants for licensure.
§ 85B-4.1 - Auctioneer Recovery Fund.
§ 85B-4.2 - Grounds for payment; notice and application to Commission.
§ 85B-4.3 - Hearing; required showing.
§ 85B-4.5 - Determination of certain small claims without a prior judicial determination.
§ 85B-4.6 - Order directing payment out of Fund; compromise of claims.
§ 85B-4.7 - Limitations; pro rata distribution; attorneys' fees.
§ 85B-4.8 - Repayment to Fund; automatic suspension of license.
§ 85B-4.9 - Subrogation of rights.
§ 85B-4.10 - Waiver of rights.
§ 85B-4.11 - Persons ineligible to recover from Fund.
§ 85B-4.12 - Disciplinary action against licensee.
§ 85B-5 - Licensing of nonresidents.
§ 85B-6 - Fees; local governments not to charge fees or require licenses.
§ 85B-7 - Conduct of auction; records.