North Carolina General Statutes 58-58-300. Authority to adopt rules
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The Commissioner may:
(1) Adopt rules implementing this Part.
Terms Used In North Carolina General Statutes 58-58-300
- Chronically ill: means :
- Devise: To gift property by will.
- Policy: means an individual or group life insurance policy, group life insurance certificate, group life insurance contract, or any other arrangement of life insurance affecting the rights of a resident of this State or bearing a reasonable relation to this State, regardless of whether delivered or issued for delivery in this State. See North Carolina General Statutes 58-58-205
(2) Establish standards for evaluating reasonableness of payments under contracts for persons who are terminally or chronically ill, including standards for the amount paid in exchange for assignment, transfer, sale, or devise of a benefit under a policy.
(3) Establish appropriate licensing requirements, fees, and standards for continued licensure for providers.
(4) Require a bond or other mechanism for financial accountability for providers and brokers.
(5) Adopt rules governing the relationship and responsibilities of insurers, providers, and brokers during the viatication of a policy. (2001-436, s. 3; 2011-284, s. 57.)