§ 58-43-1 Performance of contracts as to devices not prohibited
§ 58-43-5 Limitation as to amount and term; indemnity contracts for difference in actual value and cost of replacement; functional replacement
§ 58-43-10 Limit of liability on total loss
§ 58-43-15 Policies for the benefit of mortgagees
§ 58-43-25 Limitation of fire insurance risks
§ 58-43-30 Agreements restricting insurance producer’s commission; penalty
§ 58-43-35 Punishment for issuing fire policies contrary to law
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Terms Used In North Carolina General Statutes > Chapter 58 > Article 43 - General Regulations of Business-Fire Insurance

  • Contract: A legal written agreement that becomes binding when signed.
  • Conviction: A judgement of guilt against a criminal defendant.
  • Fixed Rate: Having a "fixed" rate means that the APR doesn't change based on fluctuations of some external rate (such as the "Prime Rate"). In other words, a fixed rate is a rate that is not a variable rate. A fixed APR can change over time, in several circumstances:
    • You are late making a payment or commit some other default, triggering an increase to a penalty rate
    • The bank changes the terms of your account and you do not reject the change.
    • The rate expires (if the rate was fixed for only a certain period of time).
  • 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
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Mortgagee: The person to whom property is mortgaged and who has loaned the money.
  • Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • property: shall include all property, both real and personal. See North Carolina General Statutes 12-3
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • 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