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Laws of North Carolina (Last Updated: May 12, 2015) |
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Chapter58. Insurance. |
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Article10. Miscellaneous Insurer Financial Provisions |
| Part 1. Conversion of Stock and Mutual Insurers |
| § 58-10-1. Stock to mutual insurer conversion |
| § 58-10-5. Stock acquired to be turned over to voting trust until all stock acquired; dividends repaid to corporation for beneficiaries |
| § 58-10-10. Mutual to stock insurer conversion |
| § 58-10-12. Conversion plan requirements |
| Part 2. Assumption Reinsurance |
| § 58-10-20. Scope |
| § 58-10-25. Definitions |
| § 58-10-30. Notice requirements |
| § 58-10-35. Policyholder rights |
| § 58-10-40. Effect of consent |
| § 58-10-45. Commissioner's discretion |
| Part 3. Disclosure of Material Transactions |
| § 58-10-55. Report |
| § 58-10-60. Acquisitions and dispositions of assets |
| § 58-10-65. Nonrenewals, cancellations, or revisions of ceded reinsurance agreements |
| Part 4. Protected Cell Companies |
| § 58-10-75. Purpose and legislative intent |
| § 58-10-80. Definitions |
| § 58-10-85. Establishment of protected cells |
| § 58-10-90. Use and operation of protected cells |
| § 58-10-95. Reach of creditors and other claimants |
| § 58-10-100. Conservation, rehabilitation, or liquidation of protected cell companies |
| § 58-10-105. No transaction of an insurance business |
| § 58-10-110. Authority to adopt rules |
| Part 5. Mortgage Guaranty Insurance |
| § 58-10-120. Definitions |
| § 58-10-125. Policyholders position and capital and surplus requirements |
| § 58-10-130. Unearned premium reserve |
| § 58-10-135. Contingency reserve for mortgage guaranty insurers |
| § 58-10-140. Report of policyholder's position |
| § 58-10-145. Monoline requirement for mortgage guaranty insurers |
| Part 6. Property and Casualty Actuarial Opinions |
| § 58-10-150. Statement of actuarial opinion |
| § 58-10-155. Actuarial opinion summary |
| § 58-10-160. Actuarial report and work papers |
| § 58-10-165. Monetary penalties for failure to provide documents |
| § 58-10-170. Qualified immunity of appointed actuary |
| § 58-10-175. Confidentiality |
| Part 7. Annual Financial Reporting |
| § 58-10-185. Purpose and scope |
| § 58-10-190. Definitions |
| § 58-10-195. General requirements related to filing and extensions for filing of annual audited financial reports and audit committee appointment |
| § 58-10-200. Contents of annual audited financial report |
| § 58-10-205. Designation of independent certified public accountant |
| § 58-10-210. Qualifications of independent certified public accountant |
| § 58-10-215. Consolidated or combined audits |
| § 58-10-220. Scope of audit and report of independent certified public accountant |
| § 58-10-225. Notification of adverse financial condition |
| § 58-10-230. Communication of internal control related matters noted in an audit |
| § 58-10-235. Accountant's letter of qualifications |
| § 58-10-240. Definition, availability, and maintenance of independent certified public accountants' work papers |
| § 58-10-245. Requirements for audit committees |
| § 58-10-250. Conduct of insurer in connection with the preparation of required reports and documents |
| § 58-10-255. Management's report of internal control over financial reporting |
| § 58-10-260. Exemptions and effective dates |
| § 58-10-265. Canadian and British companies |
| Part 8. Mutual Insurance Holding Companies |
| § 58-10-275. Definitions |
| § 58-10-280. General provisions |
| § 58-10-285. Application; contents; process |
| § 58-10-290. Plan of reorganization |
| § 58-10-295. Powers of the Commissioner |
| § 58-10-300. Special financial requirements |
| § 58-10-305. Reorganization of domestic mutual insurer with mutual insurance holding company |
| § 58-10-310. Mergers of mutual insurance holding companies |
| § 58-10-315. Stock offerings |
| § 58-10-320. Regulation of holding company system |
| § 58-10-325. Reporting of stock ownership and transactions |
| Part 9. Captive Insurance Companies |
| SUBPART 1. General Provisions. |
| § 58-10-335. Purpose |
| § 58-10-340. Definitions |
| § 58-10-345. Licensing; authority; confidentiality |
| § 58-10-350. Commissioner use of consultants and other professionals |
| § 58-10-355. Organizational examination |
| § 58-10-360. Designation of captive manager |
| § 58-10-365. Names of companies |
| § 58-10-370. Capital and surplus requirements |
| § 58-10-375. Dividends and distributions |
| § 58-10-380. Formation of captive insurance companies |
| § 58-10-385. Directors |
| § 58-10-390. Conflict of interest |
| § 58-10-395. Change of business |
| § 58-10-400. Insurance manager and intermediaries |
| § 58-10-405. Annual reports |
| § 58-10-410. Reserved for future codification purposes |
| § 58-10-415. Annual audit and actuarial certification |
| § 58-10-420. Independent certified public accountants |
| § 58-10-425. Deposit requirement |
| § 58-10-430. Examinations |
| § 58-10-435. License suspension or revocation |
| § 58-10-440. Investment requirements |
| § 58-10-445. Reinsurance |
| § 58-10-450. Membership in rating organizations; exemption from compulsory associations |
| § 58-10-455. Taxation |
| § 58-10-460. Adoption and amendment of rules by Commissioner |
| § 58-10-465. Applicable provisions |
| § 58-10-470. Establishment of standards regarding risk management |
| § 58-10-475. Supervision; rehabilitation; liquidation |
| § 58-10-480. Authority for expenditure of public funds |
| § 58-10-485. Violations and penalties |
| § 58-10-490. Reserved for future codification purposes |
| § 58-10-495. Captive insurance companies reinsuring life insurance policies |
| SUBPART 2. Protected Cell Captive Insurance Companies. |
| § 58-10-500. Forming a protected cell captive insurance company |
| § 58-10-505. Additional filing requirements for applicant protected cell captive insurance companies |
| § 58-10-510. Establishment of protected cells |
| § 58-10-515. Participation in a protected cell captive insurance company |
| § 58-10-520. Combining assets of protected cells |
| § 58-10-525. Application of supervision, rehabilitation, and liquidation provisions to protected cell captive insurance companies |
| SUBPART 3. Branch Captive Insurance Companies. |
| § 58-10-530. Establishment of branch captive insurance companies |
| § 58-10-535. Security for payment of branch captive insurance company liabilities |
| § 58-10-540. Petition for certificate of authority |
| § 58-10-545. Filing of reports and statements |
| § 58-10-550. Examination of a branch captive insurance company |
| SUBPART 4. Special Purpose Financial Captives. |
| § 58-10-555. Creation of special purpose financial captives |
| § 58-10-560. Controlling provisions when conflict exists; exemptions |
| § 58-10-565. Application requirements |
| § 58-10-570. Organization of an SPFC |
| § 58-10-575. Minimum capital |
| § 58-10-580. Authorized activities |
| § 58-10-585. Establishment of protected cell accounts |
| § 58-10-590. Protected cell accounts |
| § 58-10-595. Issuing securities |
| § 58-10-600. Asset management agreements |
| § 58-10-605. Reinsurance |
| § 58-10-610. No securities considered to be insurance or reinsurance contracts |
| § 58-10-615. Disposition of assets; investment limitations |
| § 58-10-620. Dividends |
| § 58-10-625. Changes in plan of operation; filing of audit and statement of operation; examinations |
| § 58-10-630. Cessation of business |
| § 58-10-635. Supervision, rehabilitation, or liquidation of SPFC |
| SUBPART 5. Other Provisions. |
| § 58-10-650. Other laws applicable to captive insurance companies |