North Carolina General Statutes 58-29-10. Unlawful advertising; notice to unauthorized insurer and domiciliary insurance supervisory official
Terms Used In North Carolina General Statutes 58-29-10
- Residents: shall mean and include person, partnership or corporation, domestic, alien or foreign. See North Carolina General Statutes 58-29-5
- 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
- Unfair Trade Practice Act: shall mean Article 63 of this Chapter. See North Carolina General Statutes 58-29-5
- United States: shall be construed to include the said district and territories and all dependencies. See North Carolina General Statutes 12-3
No unauthorized foreign or alien insurer shall make, issue, circulate or cause to be made, issued or circulated, to residents of this State any estimate, illustration, circular, pamphlet, or letter, or cause to be made in any newspaper, magazine or other publication or over any radio or television station, any announcement or statement to such residents misrepresenting its financial condition or the terms of any contracts issued or to be issued or the benefits or advantages promised thereby, or the dividends or share of the surplus to be received thereon in violation of the Unfair Trade Practice Act, and whenever the Commissioner shall have reason to believe that any such insurer is engaging in such unlawful advertising, it shall be his duty to give notice of such fact by registered mail to such insurer and to the insurance supervisory official of the domiciliary state of such insurer. For the purpose of this section, the domiciliary state of an alien insurer shall be deemed to be the state of entry or the state of the principal office in the United States. (1965, c. 910.)