North Carolina § 87-15 - 7. Fund administration.
Full text of North Carolina North Carolina General Statutes § 87-15 — 7. Fund administration., with citation guidance and answers to common questions.
§ 87-15. 7. Fund administration.
The Board shall determine the procedure for applying to the Board for reimbursement from the Fund, for processing applications, for granting requests for reimbursement, and for the subrogation or assignment of the rights of any reimbursed applicant. The Board shall submit annually a report to the State Treasurer accounting for all monies credited to and expended from the Fund. The Board may use monies in the Fund only for the following purposes: To reimburse an applicant's reimbursable loss after approval by the Board. To purchase insurance to cover reimbursable losses when the Board finds it appropriate to do so. To invest amounts in the Fund that are not currently needed to reimburse losses and maintain adequate reserves in the manner in which State law allows fiduciaries to invest funds. To pay the expenses of the Board to administer the Fund, including employment of counsel to prosecute subrogation claims. History (1991, c. 547, s. 1.)
Frequently Asked Questions About North Carolina § 87-15
What does North Carolina General Statutes § 87-15 cover?
Section 87-15 ("7. Fund administration.") is part of the North Carolina General Statutes, the codified statutory law of North Carolina. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite North Carolina § 87-15?
A common citation format is "North Carolina General Statutes § 87-15" (North Carolina). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of North Carolina law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the North Carolina official source linked on this page or consult a licensed North Carolina attorney.
How does North Carolina § 87-15 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in North Carolina can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in North Carolina.