85B-4.9. Subrogation of rights.
When the Commission has paid from the 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 paid and the judgment creditor shall assign all his right, title, and interest in the judgment to the extent of the amount paid to the Commission and any amount and interest recovered by the Commission on the judgment shall be deposited in the Fund. (1991 (Reg. Sess., 1992), c. 819, s. 13.)
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.