Eligibility for recovery from account; maximum amount of individual recovery from account; Board subrogated to rights of injured person; maximum amount of recovery from account for claims against individual contractor.
1. Except as otherwise provided in NRS 624.490 and subsection 2, an injured person is eligible for recovery from the account if the Board or its designee finds that the injured person suffered actual damages as a result of an act or omission of a residential contractor that is in violation of this chapter or the regulations adopted pursuant thereto.
2. An injured person is not eligible for recovery from the account if:
(a) The injured person is the spouse of the licensee, or a personal representative of the spouse of the licensee;
(b) The injured person was associated in a business relationship with the licensee other than the contract at issue; or
(c) At the time of contracting with the residential contractor, the license of the residential contractor was suspended or revoked pursuant to NRS 624.300.
3. If the Board or its designee determines that an injured person is eligible for recovery from the account pursuant to this section or NRS 624.490, the board or its designee may pay out of the account:
(a) The amount of actual damages suffered, but not to exceed $30,000; or
(b) If a judgment was obtained as set forth in NRS 624.490, the amount of actual damages included in the judgment and remaining unpaid, but not to exceed $30,000.
4. The decision of the Board or its designee regarding eligibility for recovery and all related issues is final and not subject to judicial review.
5. If the injured person has recovered a portion of his loss from sources other than the account, the Board shall deduct the amount recovered from the other sources from the amount payable upon the claim and direct the difference to be paid from the account.
6. To the extent of payments made from the account, the Board is subrogated to the rights of the injured person, including, without limitation, the right to collect from a surety bond or a cash bond. The Board and the Attorney General shall promptly enforce all subrogation claims.
7. The amount of recovery from the account based upon claims made against any single contractor must not exceed $200,000.
8. As used in this section, “actual damages” includes attorney’s fees or costs in contested cases appealed to the Supreme Court of this State. The term does not include any other attorney’s fees or costs.
Last modified: February 27, 2006