North Carolina General Statutes 58-40-90. Examination of rating, joint underwriting, and joint reinsurance organizations
Terms Used In North Carolina General Statutes 58-40-90
- 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:
The Commissioner shall, at least once every three years, make or cause to be made an examination of each statistical organization licensed pursuant to N.C. Gen. Stat. § 58-40-50. The Commissioner may, as often as deemed expedient, make or cause to be made, an examination of each group, association, or other organization referred to in N.C. Gen. Stat. § 58-40-60. This examination shall relate only to the activities conducted pursuant to this Article and to the organizations licensed under this Article. The officers, manager, agents and employees of any such organization may be examined at any time under oath and shall exhibit all books, records, accounts, documents or agreements governing its method of operation. In lieu of any such examination, the Commissioner may accept the report of an examination made by the insurance advisory official of another state, pursuant to the laws of that state. (1977, c. 828, s. 2; 1995, c. 360, s. 2(b); 1995 (Reg. Sess., 1996), c. 742, s. 26; 2005-210, s. 13.)