58-21-5. Purposes; necessity for regulation.
This Article shall be liberally construed and applied to promote its underlying purposes, which include all of the following:
(1) Protecting persons in this State seeking insurance.
(2) Permitting surplus lines insurance to be placed with reputable and financially sound nonadmitted domestic surplus lines insurers, nonadmitted insurers and exported from this State pursuant to this Article.
(3) Establishing a system of regulation that will permit orderly access to surplus lines insurance in this State and encourage admitted insurers to provide new and innovative types of insurance available to consumers in this State.
(4) Protecting revenues of this State. (1985, c. 688, s. 1; 2018-120, s. 2.1(b).)
Structure North Carolina General Statutes
North Carolina General Statutes
Article 21 - Surplus Lines Act.
§ 58-21-2 - Relationship to other insurance laws.
§ 58-21-4 - Nonadmitted and Reinsurance Reform Act duties.
§ 58-21-5 - Purposes; necessity for regulation.
§ 58-21-15 - Placement of surplus lines insurance.
§ 58-21-16 - Streamlined application for commercial purchasers.
§ 58-21-17 - Placement with alien insurers.
§ 58-21-20 - Eligible surplus lines insurer required.
§ 58-21-21 - Nonadmitted domestic surplus lines insurer.
§ 58-21-22 - Limitation on amount of salary protection insurance.
§ 58-21-25 - Other nonadmitted insurers.
§ 58-21-30 - Withdrawal of eligibility from a surplus lines insurer.
§ 58-21-35 - Duty to file and retain reports.
§ 58-21-40 - Surplus lines regulatory support organization.
§ 58-21-45 - Evidence of the insurance; changes; penalty.
§ 58-21-50 - Duty to notify insured.
§ 58-21-55 - Valid surplus lines insurance.
§ 58-21-60 - Effect of payment to surplus lines licensee.
§ 58-21-65 - Licensing of surplus lines license.
§ 58-21-70 - Surplus lines licensees may accept business from other agents or brokers.
§ 58-21-75 - Records of surplus lines licensee.
§ 58-21-85 - Surplus lines tax.
§ 58-21-90 - Collection of tax.
§ 58-21-95 - Suspension, revocation or nonrenewal of surplus lines licensee's license.
§ 58-21-100 - Actions against surplus lines insurer; service of process.