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Laws of North Carolina (Last Updated: May 12, 2015) |
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Chapter58. Insurance. |
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Article61. Regulation of Interest Rates on Life Insurance Policy Loans |
§58-61-5. Definitions
Latest version.
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For purposes of this Article the "Published Monthly Average" means:
(1) The Monthly Average of the Composite Yield on Seasoned Corporate Bonds as published by Moody's Investors Service, Inc., or any successor thereto; or
(2) In the event that the Monthly Average of the Composite Yield on Seasoned Corporate Bonds is no longer published, a substantially similar average, established by regulation issued by the Commissioner.
(1981, c. 841, s. 1.)