§ 58-45-85 – Assessment; inability to pay.
58-45-85. Assessment; inability to pay. (a) If any insurer fails, by reason of insolvency, to pay any assessment as provided in this Article, the amount assessed each insurer shall be immediately recalculated, excluding the insolvent insurer, so that its assessment is assumed and redistributed among the remaining insurers. Any assessment against an insolvent insurer shall […]
§ 58-45-90 – Open meetings.
58-45-90. Open meetings. The Association is subject to the Open Meetings Act, Article 33C of Chapter 143 of the General Statutes, as amended. (2002-185, s. 7.1.)
§ 58-45-95 – Information availability.
58-45-95. Information availability. Information concerning the Association’s activities shall be made fully available upon request provided that no competitive information concerning an individual company’s business plans, data, or operations may be disclosed by the Association if such company has properly designated such information as being a trade secret pursuant to G.S. 66-152(3) upon submitting such […]
§ 58-45-96 – Succession and dissolution.
58-45-96. Succession and dissolution. In the event that a successor organization is created to perform the Association’s general functions, the surplus, assets, and liabilities then held by the Association shall be transferred to such successor organization. The pledge or sale of, the lien upon, and the security interest in any rights, revenues, or other assets […]
§ 58-45-71 – Report of member companies to Commissioner.
58-45-71. Report of member companies to Commissioner. Each member company of the Association shall report by February 1 of each year to the Commissioner the amount of homeowners’ coverage, including separate coverage for homeowners’ wind and hail, written in the preceding calendar year by that member company in the beach area and the coastal area. […]
§ 58-45-75 – Commissioner authorized to promulgate reasonable rules and regulations.
58-45-75. Commissioner authorized to promulgate reasonable rules and regulations. The Commissioner shall have authority to make reasonable rules and regulations, not inconsistent with law, to enforce, carry out and make effective the provisions of this Article. The Commissioner shall not be liable for any act or omission in connection with the administration of the duties […]
§ 58-45-80 – Premium taxes to be paid through Association.
58-45-80. Premium taxes to be paid through Association. All premium taxes due on insurance written under this Article shall be remitted by each insurer to the Association; and the Association, as collecting agent for its member companies, shall forward all such taxes to the Secretary of Revenue as provided in Article 8B of Chapter 105 […]
§ 58-45-47 – Deficit event.
58-45-47. Deficit event. (a) In the event of losses and expenses to the Association exceeding available surplus, reinsurance, and other sources of funding of Association losses, the Association is authorized to issue a nonrecoupable assessment upon its members in accordance with its Plan of Operation. Member assessments shall not exceed one billion dollars ($1,000,000,000) for […]
§ 58-45-50 – Appeal from acts of Association to Commissioner; appeal from Commissioner to superior court.
58-45-50. Appeal from acts of Association to Commissioner; appeal from Commissioner to superior court. (a) Any person or any insurer who may be aggrieved by an act, ruling, or decision of the Association other than an act, ruling, or decision relating to (i) the cause or amount of a claimed loss or (ii) the reasonableness […]
§ 58-45-55 – Reports of inspection made available.
58-45-55. Reports of inspection made available. All reports of inspection performed by or on behalf of the Association shall be made available to the members of the Association, applicants, agent or broker, and the Commissioner. (1967, c. 1111, s. 1; 1969, c. 249.)