32-2186. Real estate recovery fund; liability limits; definitions A. The commissioner shall establish and maintain a real estate recovery fund for the benefit of any person aggrieved by any act, representation, transaction or conduct of a licensed real estate or cemetery broker or real estate or cemetery salesperson that violates this chapter or the rules […]
32-2187. Payments to real estate recovery fund A. In addition to any other fees, payments shall be made to the real estate recovery fund on application by any person, as follows: 1. For an original real estate or cemetery broker’s license, twenty dollars. 2. For an original real estate or cemetery salesperson’s license, ten dollars. […]
32-2188. Statute of limitations; service of summons; application for payment; insufficient monies; definition A. An action for a judgment that subsequently results in an order for payment from the real estate recovery fund shall not be started later than five years from the accrual of the cause of action. B. If an aggrieved person commences […]
32-2188.01. Notice of claim to judgment debtor; response A. Within the same time prescribed by section 32-2188, subsection C for applying for payment from the real estate recovery fund, an aggrieved party who applies for payment shall serve notice of the claim on the judgment debtor, together with a copy of the application. The notice […]
32-2188.02. Correction of deficiencies in the application A. If the commissioner determines that a claimant s application fails to comply substantially with the requirements of section 32-2188 or rules adopted pursuant to this chapter, the commissioner, within thirty calendar days after receiving the application, shall mail an itemized list of deficiencies to the claimant. For […]
32-2188.03. Investigation and discovery In considering and investigating an application, the department may use all appropriate means of investigation and discovery that are available pursuant to this chapter.
32-2188.04. Final decision and order on claim; notice A. The commissioner shall make a final written decision and order on a claim within ninety calendar days after receiving a completed application except in the following cases: 1. A proration hearing is pending under section 32-2188, subsection H. 2. An application is deficient or fails to […]
32-2188.05. Claimant’s right to appeal denial of claim; service of notice of appeal; response; failure to file response A. A claimant whose application is denied pursuant to section 32-2188.04 may file within six months after receiving notice of a denial of the claim a verified application in the court in which judgment was entered in […]
32-2189. Management of fund A. The sums received by the commissioner pursuant to any provisions of this article shall be deposited, pursuant to sections 35-146 and 35-147, in the real estate recovery fund and shall be held by the commissioner in trust for carrying out the purposes of this article. B. On notice from the […]
32-2191. Commissioner’s standing in court The commissioner may enter an appearance, file an answer, appear at the court hearing, defend the action or take whatever other action the commissioner considers appropriate on the behalf and in the name of the real estate recovery fund and take recourse through any appropriate method of review on behalf […]
32-2192. Subrogation of rights; collection A. Before receiving payment from the fund, a claimant must complete and execute, as judgment creditor, an assignment of judgment lien and notice of subrogation and assignment of rights to the claimant s judgment on a form provided by the department. B. If the commissioner has paid from the real […]
32-2193. Waiver of rights The failure of an aggrieved person to comply with all of the provisions of this article shall constitute a waiver of any rights hereunder.
32-2193.01. Effect of article on disciplinary action This article does not limit the authority of the commissioner to take disciplinary action against any licensee for a violation of this chapter or of the rules adopted pursuant to this chapter. The repayment in full of all obligations to the fund by any licensee does not nullify […]
32-2193.02. Surety bond requirement; form; cancellation; effective date; certificate of deposit A. In addition to any other fees assessed under this chapter, the commissioner may require that a real estate or cemetery licensee or person applying for a license or renewal of a license issued to real estate or cemetery brokers or salespersons under this […]
