North Carolina General Statutes Chapter 85B. Auctions and Auctioneers § 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 not be eligible for consideration for reinstatement until repayment in full, plus interest at the legal rate as provided for in G.S. 24-1 , the amount paid from the Fund.


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