Ala. Admin. Code r. 465-X-7-.04
Repayments To Recovery Fund
Effective Mar 17, 2025Original Rule and Emergency Rule filed June 20, 1994; Emergency Rule effective June 20, 1994; New Rule: Filed: September 23, 1994, effective October 28, 1994. Amended: Filed May 6, 2002; effective June 10, 2002. Amended: Filed August 25, 2011; effective September 29, 2011. Amended: Filed August 27, 2018; effective October 11, 2018. Amended: Published January 31, 2025; effective March 17, 2025.Home Builders Licensure Board
(1) Should the Board pay from the Homeowners' Recovery Fund any amount in settlement of a claim or toward satisfaction of a judgment against a licensee, the Board may revoke the following licenses and may no longer recognize the experience and ability qualifications of the individual licensee or the qualifying representative of the licensee:
- (a) The license of the licensee,
- (b) Any individual license held by the licensees' qualifying representative,
- (c) The licenses of any entities with the same qualifying representative as the licensee.
- (2) The Board may refuse to issue a new license to any of the licensees or individuals listed in subsection (1)(a)-(c) above, or to recognize the experience and ability qualifications of the individual licensee or the qualifying representative of the licensee, until the amount paid out of the Homeowners' Recovery Fund on behalf of the licensee has been repaid in full, plus interest at the rate of twelve percent (12%) per annum.
(3) The Board may enter into a Consent Agreement setting terms and conditions for the repayment of the Recovery Fund amount paid out on behalf of a licensee and the issuance of a new license.
- (a) A person wishing to enter into a Consent Agreement shall submit a written request for the Board to consider such and to set terms and conditions,
- (b) The request if approved shall require the applicant to execute a written consent agreement with the Board prior to issuance of any new license,
- (c) Non-compliance with the Consent Agreement terms may result in the suspension, revocation, or nonrenewal of a license.
Author: David R. Boyd, Lois Woodward, Kathy Perry Brasfield, Jamie A. Durham, J. Seth Gowan, Lauren Latham, Darlene Burt
Statutory Authority: Code Of Ala. 1975, §§34-14A-8, 34-14A-11, 34-14A-15.
Editor’s Note: Was previously 465-X-7-.01 and was renumbered 465-X-7-.04 as per certification filed May 5, 1999, effective June 9, 1999.
History: Original Rule and Emergency Rule filed June 20, 1994; Emergency Rule effective June 20, 1994; New Rule: Filed: September 23, 1994, effective October 28, 1994. Amended: Filed May 6, 2002; effective June 10, 2002. Amended: Filed August 25, 2011; effective September 29, 2011. Amended: Filed August 27, 2018; effective October 11, 2018. Amended: Published January 31, 2025; effective March 17, 2025.