§ 58-21-95 – Suspension, revocation or nonrenewal of surplus lines licensee's license.
58-21-95. Suspension, revocation or nonrenewal of surplus lines licensee’s license. The Commissioner may suspend, revoke, or refuse to renew the license of a surplus lines licensee after notice and hearing as provided under G.S. 58-2-70 upon any one or more of the following grounds: (1) Repealed by Session Laws 2019-179, s. 2(e), effective July 26, […]
§ 58-21-100 – Actions against surplus lines insurer; service of process.
58-21-100. Actions against surplus lines insurer; service of process. (a) A surplus lines insurer may be sued upon any cause of action arising in this State, under any surplus lines insurance contract made by it or evidence of insurance issued or delivered by the surplus lines licensee, pursuant to the procedure provided in G.S. 58-16-30. […]
§ 58-21-105 – Penalties.
58-21-105. Penalties. (a) Any surplus lines licensee who in this State represents or aids a nonadmitted domestic surplus lines insurer or a nonadmitted insurer in violation of this Article shall be guilty of a Class 1 misdemeanor. (b) In addition to any other penalty provided for in this section or otherwise provided by law, including […]
§ 58-22-1 – Purpose.
58-22-1. Purpose. The purpose of this Article is to regulate the formation and operation of risk retention and purchasing groups in this State that are formed pursuant to the provisions of the Product Liability Risk Retention Act of 1981, as amended by the Risk Retention Amendments of 1986 (15 U.S.C. 3901 et seq.). (1985 (Reg. […]
§ 58-22-10 – Definitions.
58-22-10. Definitions. As used in this Article: (1) "Completed operations liability" means liability arising out of the installation, maintenance, or repair of any product at a site that is not owned or controlled by: a. Any person who performs that work; or b. Any person who hires an independent contractor to perform that work; but […]
§ 58-22-15 – Risk retention groups chartered in this State.
58-22-15. Risk retention groups chartered in this State. (a) General Requirements. – A risk retention group shall, pursuant to the provisions of Part 9 of Article 10 of this Chapter, be chartered and licensed to write only liability insurance pursuant to this Article and, except as provided elsewhere in this Article, must comply with all […]
§ 58-22-20 – Risk retention groups not chartered in this State.
58-22-20. Risk retention groups not chartered in this State. Risk retention groups that have been chartered in states other than this State and that seek to do business as risk retention groups in this state must observe and abide by the laws of this State as follows: (1) Notice of Operations and Designation of Commissioner […]
§ 58-22-25 – Compulsory association.
58-22-25. Compulsory association. (a) No risk retention group is required to join or contribute financially to any insurance insolvency or guaranty fund or similar mechanism in this State; nor shall any risk retention group or its insureds receive any benefit from any such fund for claims arising out of the operations of such risk retention […]
§ 58-22-30 – Countersignature not required.
58-22-30. Countersignature not required. A policy of insurance issued to a risk retention group or any member of that group is not required to be countersigned as otherwise provided in Articles 1 through 64 of this Chapter. (1985 (Reg. Sess., 1986), c. 1013, s. 8; 1987, c. 310.)
§ 58-21-60 – Effect of payment to surplus lines licensee.
58-21-60. Effect of payment to surplus lines licensee. A payment of premium to a surplus lines licensee acting for a person other than himself in negotiating, continuing, or reviewing any policy of insurance under this Article shall be deemed to be payment to the insurer, notwithstanding any conditions or stipulations inserted in the policy or […]