North Carolina General Statutes 97-136. Powers and duties of the Commissioner
(a) The Commissioner shall:
(1) Notify the Association of the existence of an insolvent member self-insurer not later than 30 days after he receives notice of an insolvency pursuant to the standards set forth in N.C. Gen. Stat. § 97-135
Terms Used In North Carolina General Statutes 97-136
- Association: means the North Carolina Self-Insurance Security Association established by N. See North Carolina General Statutes 97-130
- Commissioner: means the North Carolina Commissioner of Insurance. See North Carolina General Statutes 97-130
- member: means an individual self-insurer or group self-insurer that is required to be a member of the Association under this Article or Part 1, Article 47 of Chapter 58 of the N. See North Carolina General Statutes 97-130
- Servicing facility: means those persons delegated by the Board to settle or compromise claims and to expend Fund assets to pay claims. See North Carolina General Statutes 97-130
- 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
(2) Repealed by Session Laws 2011-196, s. 10, effective July 1, 2011.
(b) The Commissioner may:
(1) Require that the Association notify the insureds of the insolvent member self-insurer and any other interested parties of the insolvency and of their rights under this Article. The notifications shall be by mail at their last known addresses, where available; but if required information for notification is not available, notice by publication in a newspaper of general circulation in this State shall be sufficient; and
(2) Revoke the designation of any servicing facility if the Commissioner finds claims are being handled unsatisfactorily. (1985 (Reg. Sess., 1986), c. 1013, s. 1; 2005-400, s. 6.2; 2011-196, s. 10.)