North Carolina General Statutes 58-40-50. Statistical organizations
(a) No statistical organization shall conduct its operations in this State, and no insurer shall utilize the service of such organization for any purpose enumerated in N.C. Gen. Stat. § 58-40-5 unless the organization has obtained a license from the Commissioner.
(b) No statistical organization shall refuse to supply any services for which it is licensed in this State to any insurer admitted to do business in this State and offering to pay the fair and usual compensation for the services.
(c) A statistical organization applying for a license shall include with its application:
(1) A copy of its constitution, charter, articles of organization, agreement, association, or incorporation, and a copy of its bylaws, plan of operation, and any other rules or regulations governing the conduct of its business, all duly certified by the custodian of the originals thereof;
Terms Used In North Carolina General Statutes 58-40-50
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall be construed to include the said district and territories and all dependencies. See North Carolina General Statutes 12-3
- Statistical organization: means every person, other than an admitted insurer, whether located within or outside this State, who performs one or more of the following functions:
- Statistical plan: means the document used by a statistical organization to set forth which data elements are to be reported to the statistical organization and to describe the format in which the data must be reported. See North Carolina General Statutes 58-40-5
(2) A list of its members and subscribers;
(3) The name and address of one or more residents of this State upon whom notices, process affecting it, or orders of the Commissioner may be served;
(4) A statement showing its technical qualifications for acting in the capacity for which it seeks a license; and
(5) Any other relevant information and documents that the Commissioner may require.
(d) If the Commissioner determines that the applicant and the natural persons through whom it acts are qualified to provide the services proposed, and that all requirements of law are met, he shall issue a license specifying the authorized activity of the applicant. He shall not issue a license if the proposed activity would tend to create a monopoly or to lessen or to destroy price competition. Licenses issued pursuant to this section shall remain in effect until the licensee withdraws from the State or until the license is suspended or revoked.
(e) Any change in or amendment to any document required to be filed under this section shall be promptly filed with the Commissioner.
(f) Repealed by Session Laws 2005-210, s. 7, effective October 1, 2005.
(g) Every statistical organization shall file a statistical plan with the Commissioner for approval for each line of insurance for which the organization requests to be licensed. The Commissioner may, in the Commissioner’s discretion, modify the plan to collect additional types of data.
(h) No statistical organization shall engage in any unfair or unreasonable practice with respect to its activities.
(i) A statistical organization is considered an insurance company for purposes of the applicability of N.C. Gen. Stat. § 58-6-7. (1977, c. 828, s. 2; 2005-210, s. 7; 2006-264, s. 45(a).)