State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_43 > GS_43-54

§43‑54.  Assurance fund not liable for breach of trust; limit of recovery.

The assurance fund shall notbe liable to pay any loss, damage or deprivation occasioned by a breach oftrust, whether expressed, constructive or implied, by any registered owner whois a trustee, or by the improper exercise of any power of sale in a mortgage ordeed of trust. Nor shall any plaintiff recover as compensation under theprovisions of this Chapter more than the fair market value of the land at thetime when he suffered the loss, damage or deprivation thereof. (1913,c. 90, s. 38; C.S., s. 2427.)