58-47-105. Dividends and other distributions.
(a) Group dividends and other distributions shall be made in accordance with G.S. 58-7-130, 58-8-25(b), and 58-19-30. A group shall be in compliance with this Part before payment of dividends or other distributions to its members. No group shall pay dividends or other distributions to its members until two years after the group's licensing date.
(b) Payment of dividends to the members of any group shall not be contingent upon the maintenance or continuance of membership in the group. (1997-362, s. 3.)
Structure North Carolina General Statutes
North Carolina General Statutes
Article 47 - Workers' Compensation Self-Insurance.
§ 58-47-65 - Licensing; qualification for approval.
§ 58-47-70 - License denial; termination; revocation; restrictions.
§ 58-47-75 - Reporting and records.
§ 58-47-80 - Assets and invested assets.
§ 58-47-85 - Surplus requirements.
§ 58-47-95 - Excess insurance and reinsurance.
§ 58-47-105 - Dividends and other distributions.
§ 58-47-115 - Premium payment requirements.
§ 58-47-120 - Board; composition, powers, duties, and prohibitions.
§ 58-47-125 - Admission and termination of group members.
§ 58-47-135 - Assessment plan and indemnity agreement.
§ 58-47-140 - Other provisions of this Chapter.
§ 58-47-155 - TPAs and service companies; authority; qualifications.
§ 58-47-160 - Written agreement; composition; restrictions.
§ 58-47-165 - Books and records.
§ 58-47-170 - Payments to TPA or service company.
§ 58-47-175 - Approval of advertising.
§ 58-47-180 - Premium collection and payment of claims.
§ 58-47-185 - Notices; disclosure.