§ 87-15.5. Definitions. - North Carolina Statutes

Article1A.

Homeowners Recovery Fund.

§ 87‑15.5.  Definitions.

The following definitionsapply in this Article:

(1)        Applicant. – Theowner or former owner of a single‑family residential dwelling unit whohas suffered a reimbursable loss and has filed an application for reimbursementfrom the Fund.

(2)        Board. – The StateLicensing Board for General Contractors.

(3)        Dishonest conduct. –Fraud or deceit in either of the following:

a.         Obtaining a licenseunder Article 1 of Chapter 87 of the General Statutes.

b.         The practice ofgeneral contracting by a general contractor.

(4)        Fund. – TheHomeowners Recovery Fund.

(5)        General contractor.– A person or other entity who meets any of the following descriptions:

a.         Is licensed underArticle 1 of Chapter 87 of the General Statutes.

b.         Fraudulentlyprocures any building permit by presenting the license certificate of a generalcontractor.

c.         Fraudulentlyprocures any building permit by falsely impersonating a licensed generalcontractor.

(6)        Reimbursable loss. –A monetary loss that meets all of the following requirements:

a.         Results fromdishonest or incompetent conduct by a general contractor in constructing oraltering a single‑family residential dwelling unit.

b.         Is not paid, inwhole or in part, by or on behalf of the general contractor whose conductcaused the loss.

c.         Is not covered by abond, a surety agreement, or an insurance contract.

(7)        Single‑familyresidential dwelling unit. – A separately owned residence for use of one ormore persons as a housekeeping unit with space for eating, living, andpermanent provisions for cooking and sanitation, whether or not attached toother such residences. (1991, c. 547, s. 1.)