85B-4.6. Order directing payment out of Fund; compromise of claims.
(a) Applications for payment from the Fund shall be heard and decided by a majority of the members of the Commission. If, after a hearing, the Commission finds that the claim should be paid from the Fund, the Commission shall enter an order requiring payment from the Fund of whatever sum the Commission shall find to be payable upon the claim in accordance with the limitations contained in this Article.
(b) Subject to Commission approval, a claim based upon the application of an aggrieved person may be compromised; however, the Commission shall not be bound in any way by any compromise or stipulation of the judgment debtor. (1991 (Reg. Sess., 1992), c. 819, s. 10.)
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.