58-44-115. Commissioner's review.
If the insured rescinds a settlement agreement in accordance with G.S. 58-44-105(c), the Commissioner may review the settlement agreement to determine if the agreement was fair to the parties to the agreement. If the Commissioner, upon review and within 10 business days after receiving notice of the rescission, deems that it was fair to the parties, the insured, upon notice from the Commissioner, may withdraw the rescission within five business days after receipt of notice from the Commissioner and reinstate the settlement agreement as if no rescission had taken place. The Commissioner's review and findings shall not be offered or accepted as evidence in any subsequent proceedings. (2006-145, s. 1.)
Structure North Carolina General Statutes
North Carolina General Statutes
Article 44 - Property Insurance Policies.
§ 58-44-1 - Terms and conditions must be set out in policy.
§ 58-44-5 - Items to be expressed in policies.
§ 58-44-16 - Fire insurance policies; standard fire insurance policy provisions.
§ 58-44-20 - Standard policy; permissible variations.
§ 58-44-30 - Notice by insured or agent as to increase of hazard, unoccupancy and other insurance.
§ 58-44-35 - Judge to select umpire.
§ 58-44-40 - Effect of failure to give notice of encumbrance.
§ 58-44-45 - Policy issued to husband or wife on joint property.
§ 58-44-50 - Bar to defense of failure to render timely proof of loss.
§ 58-44-55 - Farmowners' and other property policies; ice, snow, or sleet damage.
§ 58-44-70 - Purpose and scope.
§ 58-44-80 - Notification of right to mediate.
§ 58-44-85 - Request for mediation.
§ 58-44-95 - Scheduling of mediation; qualification of mediator.
§ 58-44-100 - Conduct of the mediation conference.
§ 58-44-110 - Nonparticipation in mediation program.