Terms Used In North Carolina General Statutes > Chapter 58 > Article 12 - Risk-Based Capital Requirements

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Authorized control level risk-based capital: means the number determined under the risk-based capital formula in accordance with the risk-based capital instructions. See North Carolina General Statutes 58-12-2
• Company action level risk-based capital: means , with respect to any insurer, the product of 2. See North Carolina General Statutes 58-12-2
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• following: when used by way of reference to any section of a statute, shall be construed to mean the section next preceding or next following that in which such reference is made; unless when some other section is expressly designated in such reference. See North Carolina General Statutes 12-3
• in writing: may be construed to include printing, engraving, lithographing, and any other mode of representing words and letters: Provided, that in all cases where a written signature is required by law, the same shall be in a proper handwriting, or in a proper mark. See North Carolina General Statutes 12-3
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Mandatory control level risk-based capital: means the product of . See North Carolina General Statutes 58-12-2
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• property: shall include all property, both real and personal. See North Carolina General Statutes 12-3
• Regulatory action level risk-based capital: means the product of 1. See North Carolina General Statutes 58-12-2
• 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
• Statute: A law passed by a legislature.
• Subpoena: A command to a witness to appear and give testimony.
• Testify: Answer questions in court.
• trend test calculation: include d in the risk-based capital instructions. See North Carolina General Statutes 58-12-2