Subrogation of rights of claimant against account
119 Subrogation of rights of claimant against account
On payment from moneys standing to the credit of the Fidelity Account in settlement in whole or in part of any claims under this Act, the State shall be subrogated, to the extent of that payment, to all rights and remedies of the claimant against the licensee in relation to whom the claim arose or in the event of the death or insolvency or other disability of the licensee, against his personal representatives or other persons having authority to administer his estate, and to all other rights and remedies of the claimant in respect of the defalcation to which the claim relates.
[Section 119 amended: No. 59 of 1995 s. 42; No. 77 of 2006 Sch. 1 cl. 147(2); No. 58 of 2010 s. 111.]
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