Section 4.5-711 – Subrogation
(a) (1) After the Division pays a claim from the Guaranty Fund: (i) the Division is subrogated to all rights of the claimant in the claim up to the amount paid; (ii) the claimant shall assign to the Division all rights of the claimant in the claim up to the amount paid; and (iii) the Division has a right to […]
Section 4.5-712 – Suspension of Registration Pending Reimbursement of Fund
(a) If the Division pays a claim against the Guaranty Fund based on an act or omission of a registrant, the Division may suspend the home builder registration until the registrant reimburses the Fund in full for: (1) the amount paid from the Guaranty Fund; and (2) interest on that amount at a rate determined by the Division […]