§ 58-5-90 – Deposits held in trust by Commissioner or Treasurer.
58-5-90. Deposits held in trust by Commissioner or Treasurer. (a) Deposits by Domestic Company. – The Commissioner or the Treasurer, in that officer’s official capacity, shall take and hold in trust deposits made by any domestic insurance company for the benefit of all of the insurer’s policyholders and for the purpose of complying with the […]
§ 58-5-95 – Deposits subject to approval and control of Commissioner.
58-5-95. Deposits subject to approval and control of Commissioner. The deposits of securities required to be made by any insurance company of this State shall be approved by the Commissioner of the State, and he may examine them at all times, and may order all or any part thereof changed for better security, and no […]
§ 58-5-100 – Deposits by alien companies required and regulated.
58-5-100. Deposits by alien companies required and regulated. An alien company, other than life, shall not be admitted to do business in this State until, in addition to complying with the conditions by law prescribed for the licensing and admission of such companies to do business in this State, it has made a deposit with […]
§ 58-5-105 – Deposits by life companies not chartered in United States.
58-5-105. Deposits by life companies not chartered in United States. Every alien life insurance company organized under the laws of any other country than the United States must have and keep on deposit with some state insurance department or in the hands of trustees, in exclusive trust for the security of its contracts with policyholders […]
§ 58-5-110 – Registration of bonds deposited in name of Treasurer or Commissioner.
58-5-110. Registration of bonds deposited in name of Treasurer or Commissioner. The Commissioner is hereby empowered, upon the written consent of any insurance company depositing with the Commissioner or the State Treasurer under any law of this State, any state, county, city, or town bonds or notes which are payable to bearer, to cause such […]
§ 58-5-115 – Notation of registration; release.
58-5-115. Notation of registration; release. Bonds or notes so registered shall bear notation of such registration on the reverse thereof, signed by the registering officer or agent, and may be released from such registration and may be transferred on such books of registry by the signature of the State Treasurer or Commissioner. (1925, c. 145, […]
§ 58-5-120 – Expenses of registration.
58-5-120. Expenses of registration. The necessary expenses of procuring such registration and any transfer thereof shall be paid by the company making the deposits. (1925, c. 145, s. 4; 1945, c. 384.)
§ 58-5-50 – Deposits of foreign life insurance companies.
58-5-50. Deposits of foreign life insurance companies. In addition to other requirements of this Chapter, all foreign life insurance companies shall deposit securities, as specified in G.S. 58-5-20, that have a market value of four hundred thousand dollars ($400,000) as a prerequisite of doing business in this State. All foreign life insurance companies shall deposit […]
§ 58-5-55 – Deposits of capital and surplus by domestic insurance companies.
58-5-55. Deposits of capital and surplus by domestic insurance companies. (a) In addition to other requirements of Articles 1 through 64 of this Chapter, all domestic stock insurance companies shall deposit their required statutory capital with the Commissioner, and all domestic nonstock insurance companies shall deposit their required statutory surplus with the Commissioner. Such deposits […]
§ 58-5-63 – Interest; liquidation of deposits for liabilities.
58-5-63. Interest; liquidation of deposits for liabilities. (a) All insurance companies making deposits under this Article are entitled to interest on those deposits. The right to interest is subject to a company paying its insurance policy liabilities. If any company fails to pay those liabilities, interest accruing after the failure is payable to the Commissioner […]