58-11-35. Mutual life insurance companies; assessments prohibited.
No domestic mutual life insurance company shall, after March 6, 1945, be organized to issue any policy of life insurance or any annuity contract which provides for the payment of any assessment by any policyholder or member in addition to the regular premium charged for such insurance; nor shall any such company have power to levy or collect any such assessment. No foreign or alien life insurance company shall be permitted to do business in this State if it does business, in this State or elsewhere, on such or any other assessment plan. (1945, c. 386.)
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.