If the Court orders the Board to pay any sum from the Homeowners’ Recovery Fund, the Board shall be subrogated to all the rights of the homeowner/judgment creditor. As the judgment creditor, the homeowner to whom any sum from the Homeowners’ Recovery Fund was paid shall execute and Assignment of Rights, assigning the Board all of his/her/its rights, title, and interest in the judgment, to the extent of the amount paid from the Homeowners’ Recovery Fund, to the Board.

Author: Kathy Perry Brasfield

Statutory Authority: Code of Ala. 1975, §§34-14A-11, 34-14A-15.

History: New Rule: Filed May 5, 1999; effective June 9, 1999. Amended: Filed May 6, 2002; effective June 10, 2002. Amended: Filed August 25, 2011; effective September 29, 2011.