12 NCAC 11 .0403. PROCESSING APPLICATIONS

(a)  The Board shall cause each application to be sent to the administrator for investigation and report.  A copy of the application shall be served upon or sent by registered mail to the last known address of the licensee who it is claimed defaulted on an obligation.

(b)  The Administrator shall conduct such investigation in such manner as he deems necessary and desirable in order to determine whether the application is for a reimbursable loss and in order to guide and advise the Board in determining the extent, if any, for which the application should be paid from the fund.

(c)  A report from the Administrator shall be submitted to the Chairman of the Board within a reasonable time.

(d)  The Board shall hold a hearing on every application filed by an aggrieved party.  The hearing shall be held before the Board and shall follow the guidelines set out in Chapter 150B of the General Statutes of North Carolina.

 

History Note:        Authority G.S. 74D‑31;

Eff. June 1, 1990.