Laws of North Carolina (Last Updated: May 12, 2015) |
Chapter58. Insurance. |
Article8. Mutual Insurance Companies |
§58-8-50. Guaranty against assessments prohibited
Latest version.
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If any director, officer, or agent of a mutual insurance company, either officially or privately, gives a guarantee to a policyholder of the company against an assessment to which that policyholder would otherwise be liable, the director, officer, or agent shall be punished by a fine not exceeding one thousand dollars ($1,000) for each offense.
(1899, c. 54, s. 100; Rev., s. 3496; C.S., s. 6352; 1945, c. 386; 2003-212, s. 16.)