North Carolina General Statutes 58-14-15. Penalties provided for unauthorized acts
Terms Used In North Carolina General Statutes 58-14-15
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- 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
When any domestic insurer knowingly engages in the practice of soliciting, advertising or making contracts for insurance in states or jurisdictions in which it is not licensed, the Commissioner may issue an order requiring the company to cease and desist from engaging in such activities and, for the purposes of this section, the acts prohibited by N.C. Gen. Stat. § 58-14-10 and the foregoing sections, are declared to be an unfair trade practice within the meaning of N.C. Gen. Stat. § 58-63-15 and N.C. Gen. Stat. § 58-63-40. When the Commissioner has reason to believe that any domestic company has been engaged or is engaging in the practice of knowingly soliciting, advertising or writing contracts of insurance on risks within a state or jurisdiction in which it is not licensed, the Commissioner shall serve the company with notice of hearing and the hearing shall conform with the hearing procedure set forth in N.C. Gen. Stat. § 58-63-25. Any action taken by the Commissioner after the hearing shall comply with N.C. Gen. Stat. § 58-63-32, and any company aggrieved by an order of the Commissioner is entitled to the judicial review provided in N.C. Gen. Stat. § 58-63-35. (1967, c. 935, s. 1; 1991, c. 720, ss. 4, 54; 1995, c. 193, s. 24; 1995 (Reg. Sess., 1996), c. 742, s. 23.)