North Carolina General Statutes 58-22-60. Duty of agents or brokers to obtain license
Current as of: 2024 | Check for updates
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Terms Used In North Carolina General Statutes 58-22-60
- Insurance: means primary insurance, excess insurance, reinsurance, surplus lines insurance, and any other arrangement for shifting and distributing risk that is determined to be insurance under the laws of this State. See North Carolina General Statutes 58-22-10
- Purchasing group: means any group that:
- Risk retention group: means any corporation or other limited liability association:
- 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
Any person acting, or offering to act, as an agent or broker for a risk retention group or purchasing group, that solicits members, sells insurance coverage, purchases coverage for its members located within the State, or otherwise does business in this State shall, before commencing any such activity, obtain an insurance producer license from the Commissioner. (1987, c. 310, s. 1; 2022-46, s. 14(cc).)