North Carolina General Statutes 58-33-100. Payment of premium to insurance producer valid; obtaining by fraud a crime
Attorney's Note
Under the N.C. Gen. Statutes, punishments for crimes depend on the classification. In the case of this section:| Class | Prison | Fine |
|---|---|---|
| Class 1 misdemeanor | up to 120 days |
Terms Used In North Carolina General Statutes 58-33-100
- Agent: means a person licensed to solicit applications for, or to negotiate a policy of, insurance. See North Carolina General Statutes 58-33-10
- Contract: A legal written agreement that becomes binding when signed.
- Insurance: means any of the kinds of insurance in N. See North Carolina General Statutes 58-33-10
- Limited representative: means a person who is authorized by the Commissioner to solicit or negotiate contracts for the particular lines of authority identified in N. See North Carolina General Statutes 58-33-10
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Person: means an individual or a business entity, but does not mean a county, city, or other political subdivision of the State of North Carolina. See North Carolina General Statutes 58-33-10
- producer: includes an agent and a broker. See North Carolina General Statutes 58-33-10
(a) Any insurance producer or limited representative who acts for a person other than himself negotiating a contract of insurance is, for the purpose of receiving the premium therefor, the company’s agent, whatever conditions or stipulations may be contained in the policy or contract. This subsection does not apply to the Insurance Underwriting Association established under Article 45 of this Chapter or the Joint Underwriting Association established under Article 46 of this Chapter.
(b) Any insurance producer or limited representative knowingly procuring by fraudulent representations payment, or the obligation for the payment, of a premium of insurance, shall be guilty of a Class 1 misdemeanor. (1987, c. 629, s. 1; 1993, c. 539, s. 458; 1994, Ex. Sess., c. 24, s. 14(c); 1997-498, s. 4; 2022-46, s. 13(a).)