58-22-25. Compulsory association.
(a) No risk retention group is required to join or contribute financially to any insurance insolvency or guaranty fund or similar mechanism in this State; nor shall any risk retention group or its insureds receive any benefit from any such fund for claims arising out of the operations of such risk retention group.
(b) A risk retention group may be required to participate in residual market mechanisms under Articles 37 and 42 of this Chapter. (1987, c. 310.)
Structure North Carolina General Statutes
North Carolina General Statutes
Article 22 - Liability Risk Retention.
§ 58-22-15 - Risk retention groups chartered in this State.
§ 58-22-20 - Risk retention groups not chartered in this State.
§ 58-22-25 - Compulsory association.
§ 58-22-30 - Countersignature not required.
§ 58-22-40 - Notice and registration requirements of purchasing groups.
§ 58-22-45 - Restriction on insurance purchased by purchasing groups.
§ 58-22-60 - Duty of agents or brokers to obtain license.
§ 58-22-65 - Binding effect of orders issued in U.SDistrict Court.