58-11-15. Revocation for noncompliance.
If any corporation or association transacting insurance business in this State on the assessment plan or issuing any policy upon the life of a resident of North Carolina upon the assessment plan shall fail or refuse to comply with G.S. 58-11-10, the Commissioner shall forthwith suspend or revoke all authority of such corporation or association and of its agents to do business in this State. (1913, c. 159, s. 2; C.S., s. 6359; 1991, c. 720, ss. 4, 13.)
Structure North Carolina General Statutes
North Carolina General Statutes
Article 11 - Assessment Companies.
§ 58-11-1 - Copies of charter and bylaws filed.
§ 58-11-5 - Contracts must accord with charter and bylaws.
§ 58-11-10 - "Assessment plan" printed on application and policy.
§ 58-11-15 - Revocation for noncompliance.
§ 58-11-20 - Deposits and advance assessments required.
§ 58-11-25 - Deposits by foreign assessment companies or orders.
§ 58-11-30 - Revocation of license.
§ 58-11-35 - Mutual life insurance companies; assessments prohibited.