§ 85B-4.5 – Determination of certain small claims without a prior judicial determination.
85B-4.5. Determination of certain small claims without a prior judicial determination. Notwithstanding any other provisions of this Chapter, the Commission may, in its discretion, order that payment be made from the Fund, without requiring a prior judicial determination in any case where: (1) The total loss claimed by the claimant is two thousand five hundred […]
§ 85B-4.6 – Order directing payment out of Fund; compromise of claims.
85B-4.6. Order directing payment out of Fund; compromise of claims. (a) Applications for payment from the Fund shall be heard and decided by a majority of the members of the Commission. If, after a hearing, the Commission finds that the claim should be paid from the Fund, the Commission shall enter an order requiring payment […]
§ 85B-4.7 – Limitations; pro rata distribution; attorneys' fees.
85B-4.7. Limitations; pro rata distribution; attorneys’ fees. (a) Payments from the Fund shall be subject to the following limitations: (1) The right to recovery under this Article shall be forever barred unless timely notice is given as required by G.S. 85B-4.2(a)(1) and application is made within one year after termination of all proceedings, including appeals, […]
§ 85B-4.8 – Repayment to Fund; automatic suspension of license.
85B-4.8. Repayment to Fund; automatic suspension of license. Should the Commission pay from the Fund any amount in settlement of a claim or toward satisfaction of a judgment against a licensee, the license of the licensee shall be automatically suspended upon the effective date of the order authorizing payment from the Fund. The licensee shall […]
§ 85B-4.9 – Subrogation of rights.
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 […]
§ 85B-1 – Definitions.
85B-1. Definitions. For the purposes of this Chapter the following definitions shall apply: (1) "Auction" means the sale of goods or real estate by means of exchanges between an auctioneer and members of an audience, the exchanges consisting of a series of invitations for offers made by the auctioneer, offers by members of the audience, […]
§ 85B-2 – Activities governed by Chapter.
85B-2. Activities governed by Chapter. (a) This Chapter shall apply to all auctions held in this State except the following: (1) Sales at auction conducted by the owner of all of the goods or real estate being offered, or an attorney representing the owner, unless the owner’s regular course of business includes engaging in the […]
§ 85B-3 – Auctioneers Commission.
85B-3. Auctioneers Commission. (a) There shall be a five-member North Carolina Auctioneers Commission having the powers and responsibilities set out in this Chapter. The Governor shall appoint the members of the Commission, at least three of whom, and their successors, may be from nominations submitted by the Auctioneers Association of North Carolina. The Auctioneers Association […]
§ 85B-3.1 – Auctioneers Commission; powers and duties.
85B-3.1. Auctioneers Commission; powers and duties. (a) The Commission shall have the following powers and duties: (1) To receive and act upon applications for licenses. (2) To issue licenses. (3) To deny, suspend, and revoke licenses pursuant to G.S. 85B-8. (4) To issue declaratory rulings. (5) To adopt rules for auctioneers and auctions that are […]
§ 85B-3.2 – Criminal history record checks of applicants for licensure.
85B-3.2. Criminal history record checks of applicants for licensure. (a) Definitions. – The following definitions apply in this section: (1) Applicant. – An applicant for initial licensure as an auctioneer, apprentice auctioneer, or auction firm. (2) Criminal history. – A State or federal history of conviction of a crime, whether a misdemeanor or felony, that […]