SECTION .1000 ‑ RECOVERY FUND
14b NCAC 16 .1001 DEFINITIONS
In addition to the definitions under Article 2 of Chapter 74C of the General Statutes of North Carolina, the following definitions shall apply throughout this Section:
(1) "Board" means the Private Protective Services Board.
(2) "Fund" means the Recovery Fund of the Private Protective Services Act.
(3) "Aggrieved Party" means a person who has suffered a reimbursable loss because of a licensee's defaulting on an obligation owed to the person while providing private protective services.
(4) "Licensee" means a person who, at the time of the act complained of, was licensed by the Private Protective Services Board.
(5) "Reimbursable Loss" means:
(a) only those losses of money or other property which meet all of the following tests:
(i) The obligation was incurred on or after July 1, 1983;
(ii) The loss was caused by a licensee or trainee's defaulting on an obligation owed where such obligation was entered into by the licensee or trainee within the scope of the licensee's or trainee's employment in providing private protective services; and
(iii) The aggrieved party has exhausted all civil remedies against the licensee or his estate and has complied with these rules.
(b) the following shall be excluded from "reimbursable losses":
(i) Losses of spouses, children, parents, grandparents, siblings, partners, associates and employees of the licensee or trainee causing the losses;
(ii) Losses covered by any bond, surety agreement, or insurance contract to the extent covered thereby; and
(iii) Losses which have been otherwise received from or paid by or on behalf of the licensee who defaulted on an obligation.
(6) "Trainee" means a person who, at the time of the act complained of, was licensed as a trainee by the Private Protective Services Board.
History Note: Authority G. S. 74C‑31;
Eff. June 1, 1989;
Transferred and Recodified from 12 NCAC 07D .1001 Eff. July 1, 2015.