§ 93A-22. Repayment to fund; automatic suspension of license. - North Carolina Statutes

§ 93A‑22.  Repayment tofund; automatic suspension of license.

Should the Commission pay fromthe Real Estate Recovery Fund any amount in settlement of a claim or towardsatisfaction of a judgment against a licensed real estate broker orsalesperson, any license issued to the broker or salesperson shall beautomatically suspended upon the effective date of the order authorizingpayment from the fund. No such broker or salesperson shall be granted areinstatement until the fund has been repaid in full, including interest at thelegal rate as provided for in G.S. 24‑1. (1979, c. 614, s. 1; 1983, c. 81, s. 2; 1987, c. 516,s. 14.; 2000‑140, s. 19(b); 2001‑487, s. 23(f); 2005‑395, s.15.)