North Carolina General Statutes 97-142. Disposition of assets upon dissolution
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Terms Used In North Carolina General Statutes 97-142
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Association: means the North Carolina Self-Insurance Security Association established by N. See North Carolina General Statutes 97-130
- Fund: means the North Carolina Self-Insurance Security Fund established by N. 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
In the event of dissolution of the Association, all assets remaining after provision for satisfaction of all outstanding claims shall be distributed to the State Treasurer for establishment of a reserve to satisfy potential claims against the Association and, all such claims being satisfied, for inclusion in the general fund of the State. (1985 (Reg. Sess., 1986), c. 1013, s. 1.)