North Carolina General Statutes Chapter 58, Article 45

What this document is

North Carolina General Statutes Chapter 58, Article 45 - Essential Property Insurance for Beach Area Property (G.S. 58-45-1 through 58-45-96) is a state statute published by North Carolina General Assembly. It is one of the North Carolina documents that insurance license exam questions are written from, including north carolina property & casualty, north carolina personal lines practice questions. This page summarizes it and points to the official version, which is the text to rely on.

Sections cited in practice questions

Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.

• G.S. 58-45-41(a) (Coverage limits)

  “§ 58-45-41. Coverage limits. (a) The Association shall cause to be issued insurance up to the reasonable value of the insurable property, subject to a maximum of one million dollars ($1,000,000) on habitational property. The above limits on habitational property shall apply to the value of the...”

• G.S. 58-45-35(c) (Persons eligible to apply to Association for coverage; contents of application)

  “If the Association, for any reason, denies an application and refuses to cause to be issued an insurance policy on insurable property to any applicant or takes no action on an application within the time prescribed in the plan of operation, the applicant may appeal to the Commissioner and the...”

• G.S. 58-45-10 (North Carolina Insurance Underwriting Association created)

  “There is hereby created the North Carolina Insurance Underwriting Association, consisting of all insurers authorized to write and engage in writing within this State, on a direct basis, essential property insurance, except town and county mutual insurance associations and assessable mutual...”

• G.S. 58-45-50(a) (Appeal from acts of Association to Commissioner; appeal from Commissioner to superior court)

  “Any person or any insurer who may be aggrieved by an act, ruling, or decision of the Association other than an act, ruling, or decision relating to (i) the cause or amount of a claimed loss or (ii) the reasonableness of expenses incurred by an insurer in adjusting windstorm and hail losses, may,...”

• G.S. 58-45-35(e) (Persons eligible to apply to Association for coverage; separate windstorm and hail insurance)

  “(e) Policies of windstorm and hail insurance provided for in subsection (b) of this section are available only for risks in the beach and coastal areas for which essential property insurance has been written by licensed insurers. Whenever such other essential property insurance written by licensed...”

• G.S. 58-45-35(c) (Persons eligible to apply to Association for coverage; contents of application: appeal from denial)

  “If the Association, for any reason, denies an application and refuses to cause to be issued an insurance policy on insurable property to any applicant or takes no action on an application within the time prescribed in the plan of operation, the applicant may appeal to the Commissioner and the...”

• G.S. 58-45-5(2a) (Definition of terms: Catastrophe recovery charge)

  “The amount of the catastrophe recovery charge collected in a particular year shall not exceed an aggregate amount of ten percent (10%) of policy premium.”

Practice this material

Questions about this source

More North Carolina sources

• North Carolina General Statutes Chapter 14, Article 19 - False Pretenses and Cheats (G.S. 14-100 through 14-113)State statute
• North Carolina General Statutes Chapter 20, Article 13 - The Vehicle Financial Responsibility Act of 1957 (G.S. 20-309 through 20-319)State statute
• North Carolina General Statutes Chapter 20, Article 9A - Motor Vehicle Safety and Financial Responsibility Act of 1953 (G.S. 20-279.1 through 20-279.39)State statute
• North Carolina General Statutes Chapter 97 - Workers' Compensation Act, complete chapter, Articles 1 through 5 (163 sections, G.S. 97-1 through 97-200)State statute
• N.C. Gen. Stat. s. 58-63-15: Unfair methods of competition and deceptive acts definedState statute
• North Carolina General Statutes Chapter 58, Article 2 - Commissioner of Insurance (G.S. 58-2-1 through 58-2-255)State statute
• North Carolina General Statutes Chapter 58, Article 28 - Unauthorized Insurers (G.S. 58-28-1 through 58-28-45)State statute
• North Carolina Insurance Producer Licensing - N.C. Gen. Stat. Chapter 58, Article 33 (Licensing of Agents, Brokers, Limited Representatives, and Adjusters)State statute