58-42-20. Classification and rates.
Each plan shall provide for:
(1) The method of classifying risks;
(2) The making and filing of rates that are not excessive, inadequate, or unfairly discriminatory and that are calculated on an actuarially sound basis and policy forms applicable to the various risks insured by the plan;
(3) The adjusting and processing of claims;
(4) The commission rates to be paid to agents or brokers for coverages written by the plan; and
(5) Any other insurance or investment functions that are necessary for the purpose of providing adequate and readily accessible coverage. (1986, Ex. Sess., c. 7, s. 1; 1999-114, s. 1.)
Structure North Carolina General Statutes
North Carolina General Statutes
Article 42 - Mandatory or Voluntary Risk Sharing Plans.
§ 58-42-1 - Establishment of plans.
§ 58-42-5 - Purposes, contents, and operation of risk sharing plans.
§ 58-42-10 - Persons required to participate.
§ 58-42-15 - Voluntary participation.
§ 58-42-20 - Classification and rates.
§ 58-42-25 - Basis for participation.
§ 58-42-30 - Duty to provide information.
§ 58-42-35 - Provision of marketing facilities.
§ 58-42-40 - Voluntary risk sharing plans.
§ 58-42-45 - Article subject to Administrative Procedure Act; legislative oversight of plans.
§ 58-42-50 - Immunity of Commissioner and plan participants.