State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_93A > GS_93A-20

§93A‑20.  Order directing payment out of fund; compromise of claims.

Applications for payment fromthe Real Estate Recovery Fund shall be heard and decided by a majority of themembers of the Commission. If, after a hearing, the Commission finds the claimshould be paid from the fund, the Commission shall enter an order requiringpayment from the fund of whatever sum the Commission shall find to be payableupon the claim in accordance with the limitations contained in this Article.

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 orstipulation of the judgment debtor. If a claim appears to be otherwisemeritorious, the Commission may waive procedural defects in the application forpayment. (1979, c. 614, s. 1; 1983, c. 81, s. 2; 1987, c. 516,s. 9; 1999‑229, s. 10.)