§ 58-62-61 – Miscellaneous provisions.
58-62-61. Miscellaneous provisions. (a) Nothing in this Article reduces the liability for unpaid assessments of the insureds or enrollees of a delinquent insurer operating under a plan with assessment liability. (b) Records shall be kept of all negotiations and meetings in which the Association or its representatives are involved and in which the activities of […]
§ 58-62-66 – Examination of the Association; annual report.
58-62-66. Examination of the Association; annual report. The Association is subject to examination and regulation by the Commissioner. The Board shall submit to the Commissioner each year, not later than 120 days after the Association’s fiscal year, a financial report in a form approved by the Commissioner and a report of its activities during the […]
§ 58-62-75 – Tax exemptions.
58-62-75. Tax exemptions. The Association shall be exempt from payment of all fees and all taxes levied by this State or any of its subdivisions, except taxes levied on real property. (1973, c. 1438, s. 1.)
§ 58-62-76 – Immunity.
58-62-76. Immunity. There is no liability by, and no cause of action of any nature arises against, any member insurer or its agents or employees, the Association or its agents or employees, members of the Board, the Commissioner or the Commissioner’s representatives, or insurance regulators or their representatives, for any act or omission by them […]
§ 58-62-77 – Actions not precluded.
58-62-77. Actions not precluded. Nothing in this Article precludes any resident from bringing any action against the Association in any court of competent jurisdiction with respect to any contractual obligation arising under covered policies. (1993 (Reg. Sess., 1994), c. 678, s. 26.)
§ 58-62-81 – Stay of proceedings; reopening default judgments.
58-62-81. Stay of proceedings; reopening default judgments. All proceedings in which the insolvent insurer is a party in any court in this State shall be stayed 180 days from the date an order of liquidation, rehabilitation, or conservation is final to permit proper legal action by the Association on any matters germane to its powers […]
§ 58-62-86 – Prohibited advertisement of Article in insurance sales; notice to policyholders.
58-62-86. Prohibited advertisement of Article in insurance sales; notice to policyholders. (a) No person, including a member insurer, agent, or affiliate of a member insurer, shall make, publish, disseminate, circulate, or place before the public, or cause directly or indirectly to be made, published, disseminated, circulated, or placed before the public, in any newspaper, magazine, […]
§ 58-62-95 – Use of deposits made by impaired or insolvent insurer.
58-62-95. Use of deposits made by impaired or insolvent insurer. Notwithstanding any other provision of this Chapter pertaining to the use of deposits made by insurance or health maintenance organization companies for the protection of policy or contract owners, certificate holders, or enrollees, the Association shall receive, upon its request, from the Commissioner and may […]
§ 58-62-26 – Creation of the Association.
58-62-26. Creation of the Association. (a) There is created a nonprofit legal entity to be known as the North Carolina Life and Health Insurance Guaranty Association. All member insurers shall be and remain members of the Association as a condition of their authority to transact insurance or a health maintenance organization business in this State. […]
§ 58-62-31 – Board of directors.
58-62-31. Board of directors. (a) The Board shall consist of not less than seven nor more than 11 member insurers serving terms as established in the Plan. The members of the Board shall be selected by member insurers, subject to the Commissioner’s approval. Vacancies on the Board shall be filled for the remaining period of […]