North Carolina General Statutes Chapter 58, Article 46

What this document is

North Carolina General Statutes Chapter 58, Article 46 - Fair Access to Insurance Requirements (G.S. 58-46-1 through 58-46-60) 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. 58-46-30 (Appeals; judicial review)

  “§ 58-46-30. Appeals; judicial review. The association shall provide reasonable means, to be approved by the Commissioner, whereby any person or insurer affected by any act or decision of the administrators of the Plan or underwriting association, other than an act or decision relating to the cause...”

• G.S. 58-46-10(b) (Participation in association)

  “An insurance producer who is licensed under Article 33 of this Chapter and is appointed as an agent of a company which is a member of the Association established under this Article shall not be deemed an agent of the Association.”

• G.S. 58-46-1(a), (b) (Purpose and geographic coverage of Article)

  “It is the intent of the General Assembly in creating and, from time to time, amending this Article that the market provided by this Article not be the first market of choice, but the market of last resort. (b) This Article shall apply to all geographic areas of the State except the "Beach Area"...”

• G.S. 58-46-5 (Organization of underwriting association)

  “All insurers licensed to write and writing property insurance in this State on a direct basis are authorized, subject to the approval and regulation by the Commissioner, to establish and maintain a FAIR Plan (Fair Access to Insurance Requirements) and to establish and maintain an underwriting...”

• G.S. 58-46-10(a) (Participation in association)

  “Every insurer authorized to write basic property insurance in this State except town and county mutual insurance associations and assessable mutual companies as authorized by G.S. 58-7-75(5)b, 58-7-75(5)d and 58-7-75(7)b and except an insurer who only writes insurance on property exempted from...”

• G.S. 58-46-15 (Requirements of Plan and authority of Association)

  “The Commissioner may review the plan of operation at any time he deems to be expedient or prudent, but not less than once in each calendar year. After review of such plan the Commissioner may amend the plan after consultation with the directors and upon certification to the directors of such amendment.”

• G.S. 58-46-20(b) (Authority of Commissioner)

  “If the Commissioner disapproves all or any part of the proposed Plan and articles, the directors of the association shall within 30 days submit for review an appropriately revised Plan and articles and if the directors fail to do so, the Commissioner shall thereafter promulgate such Plan and...”

• G.S. 58-46-40 (Assessment; inability to pay)

  “In the event any insurer fails by reason of insolvency to pay any assessment as provided herein, the amount assessed each insurer shall be immediately recalculated excluding therefrom the insolvent insurer so that its assessment is, in effect, assumed and redistributed among the remaining insurers....”

• G.S. 58-46-1(c) (Purpose and geographic coverage of Article)

  “As used in this Article, "crime insurance" means insurance against losses resulting from robbery, burglary, larceny, and similar crimes, as more specifically defined and limited in the various crime insurance policies, or their successor forms of coverage, approved by the Commissioner and issued by...”

• G.S. 58-46-2 (Persons who can be insured by the Association)

  “As used in this Article, "person" includes the State of North Carolina and any county, city, or other political subdivision of the State of North Carolina.”

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Questions about this source

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