58-28-1. Purpose of Article. It is the purpose of this Article to abate and prevent the practices of unauthorized insurers within the State of North Carolina, and to provide methods for effectively enforcing the laws of this State against such practices. The General Assembly finds that there is within this State a substantial amount of […]
58-28-12. Transacting insurance business in this State. Definitions. – As used in this section, G.S. 58-28-13, and G.S. 58-28-14: (1) "Admitted insurer" means an insurer that is licensed to write insurance in this State. (2) "Kind of insurance" means one of the types of insurance specified in G.S. 58-7-15. (3) "Nonadmitted insurer" means an insurer […]
58-28-13. Placement of insurance business. (a) An insurer shall not transact insurance business in this State unless it is an admitted insurer, is exempted by this Article, or is otherwise exempted by this Chapter. (b) A person shall not transact insurance business or in this State directly or indirectly act as agent for, or otherwise […]
58-28-14. Monetary penalty; factors to be considered. In determining the amount of the penalty under G.S. 58-28-13, the Commissioner shall consider: (1) The amount of money that inured to the benefit of the violator as a result of the violation, (2) Whether the violation was committed willfully. (3) The prior record of the violator in […]
58-28-15. Validity of acts or contracts of unauthorized company shall not impair obligation of contract as to the company; maintenance of suits; right to defend. The failure of a company to obtain a license shall not impair the validity of any acts or contracts of the company. Any person or insured holding contracts of insurance […]
58-28-20. Cease and desist orders; judicial review. (a) Whenever the Commissioner has reasonable grounds to believe that any person is violating or is about to violate G.S. 58-28-5, 58-28-45, or 58-33-95, the Commissioner may, after notice and opportunity for hearing, make written findings and issue and cause to be served upon the person an order […]
58-28-30. Penalty. Any person who willfully violates a cease and desist order of the Commissioner under G.S. 58-28-20, after it has become final, and while such order is in effect, is subject to the provisions of G.S. 58-2-70. (1989, c. 485, s. 15.)
58-28-35. Provisions of Article additional to existing law; application. The powers vested in the Commissioner by this Article are additional to any other powers to enforce any penalties, fines, or forfeitures authorized by law with respect to transacting the business of insurance without authority. This Article applies to all kinds of insurance, including service corporations […]
58-28-40. Service of process on Secretary of State as agent for unauthorized company. (a) Any act of entering into a contract of insurance as an insurer or transacting insurance business in this State, as set forth in G.S. 58-28-12 by an unauthorized, foreign or alien company, shall be equivalent to and shall constitute an appointment […]
58-28-45. Unauthorized Insurers; prohibited acts. (a) No person shall in this State act as agent for any insurer not authorized to transact business in this State, or negotiate for or place or aid in placing insurance coverage in this State for another with any such insurer. (b) No person shall in this State aid any […]
58-28-5. Transacting business without a license prohibited; exceptions. (a) Except as otherwise provided in this section, it is unlawful for any company to enter into a contract of insurance as an insurer or to transact insurance business in this State as set forth in G.S. 58-28-13 without a license issued by the Commissioner. This section […]
