58-37-15. Insolvency.
Any unsatisfied net liability to the Facility of any insolvent member shall be assumed by and apportioned among the remaining members in the Facility in the same manner in which assessments are apportioned by the Facility. The Facility shall have all rights allowed by law in behalf of the remaining members against the estate or funds of such insolvent for sums due the Facility in accordance with this Article. (1973, c. 818, s. 1; 1977, c. 828, s. 12.)
Structure North Carolina General Statutes
North Carolina General Statutes
Article 37 - North Carolina Motor Vehicle Reinsurance Facility.
§ 58-37-5 - North Carolina Motor Vehicle Reinsurance Facility; creation; membership.
§ 58-37-10 - Obligations after termination of membership.
§ 58-37-20 - Merger, consolidation or cession.
§ 58-37-25 - General obligations of insurers.
§ 58-37-30 - General obligations of insurance producers.
§ 58-37-35 - The Facility; functions; administration.
§ 58-37-40 - Plan of operation.
§ 58-37-45 - Procedure for cession provided in plan of operation.
§ 58-37-50 - Termination of insurance.
§ 58-37-55 - Exemption from requirements of this Article of companies and their agents.