NAC624.765. Claimant’s agreement with Board.

As a condition of receiving payment from the Recovery Fund, a claimant must enter into an agreement with the Board pursuant to which the Board is subrogated to the rights of the claimant against the accused residential contractor, the estate of the accused residential contractor or a third party for an amount equal to the amount of money paid from the Recovery Fund to the claimant plus the amount of all costs incurred by the Board in recovering that amount of money from the accused residential contractor, the estate of the accused residential contractor or the third party. The agreement must provide that the claimant will cooperate with the Board in any proceeding commenced to recover such money from the accused residential contractor, the estate of the accused residential contractor or the third party.

     (Added to NAC by Contractors’ Bd. by R068-01, eff. 11-8-2001)