87-15.5. Definitions.
The following definitions apply in this Article:
(1) Applicant. - The owner or former owner of a single-family residential dwelling unit who has suffered a reimbursable loss and has filed an application for reimbursement from the Fund.
(2) Board. - The State Licensing Board for General Contractors.
(3) Dishonest conduct. - Fraud or deceit in either of the following:
a. Obtaining a license under Article 1 of Chapter 87 of the General Statutes.
b. The practice of general contracting by a general contractor.
(4) Fund. - The Homeowners Recovery Fund.
(5) General contractor. - A person or other entity who meets any of the following descriptions:
a. Is licensed under Article 1 of Chapter 87 of the General Statutes.
b. Fraudulently procures any building permit by presenting the license certificate of a general contractor.
c. Fraudulently procures any building permit by falsely impersonating a licensed general contractor.
(6) Reimbursable loss. - A monetary loss that meets all of the following requirements:
a. Results from dishonest or incompetent conduct by a general contractor in constructing or altering a single-family residential dwelling unit.
b. Is not paid, in whole or in part, by or on behalf of the general contractor whose conduct caused the loss.
c. Is not covered by a bond, a surety agreement, or an insurance contract.
(7) Single-family residential dwelling unit. - A separately owned residence for use of one or more persons as a housekeeping unit with space for eating, living, and permanent provisions for cooking and sanitation, whether or not attached to other such residences.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.