§ 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 […]
§ 58-45-47 – 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.)
§ 58-45-60 – Association and Commissioner immune from liability.
58-45-60. Association and Commissioner immune from liability. There shall be no liability on the part of and no cause of action of any nature shall arise against any member insurer, the Association or its agents or employees, the board of directors, or the Commissioner or his representatives for any action taken by them in good […]
§ 58-45-65 – Association to file annual report with Commissioner.
58-45-65. Association to file annual report with Commissioner. The Association shall file in the office of the Commissioner on an annual basis on or before January 1 a statement which shall summarize the transactions, conditions, operations and affairs of the Association during the preceding year. Such statement shall contain such matters and information as are […]
§ 58-45-65.1 – Association to be audited.
58-45-65.1. Association to be audited. The Association shall be audited on an annual basis by an auditor selected by the Commissioner. (2009-472, s. 1.)