58-48-130. Termination.
The account created in G.S. 58-48-115 shall be dissolved when all liabilities of the Stock Workers' Compensation Security Fund, under former G.S. 97-107 have been satisfied. Any excess moneys in the Stock Reserve Account shall be refunded to the member insurers that were stock workers' compensation carriers during the preceding calendar year. The amount to be refunded to each stock carrier shall be in proportion to the assessments paid by each stock carrier. The account created in G.S. 58-48-120 shall be dissolved when the liabilities of the Mutual Workers' Compensation Security Fund, under former G.S. 97-114, have been satisfied. Any excess moneys in the mutual reserve account shall be refunded to the member insurers that were mutual workers' compensation carriers during the preceding calendar year. The amount to be refunded to each mutual carrier shall be in proportion to the assessments paid by each mutual carrier. (1991 (Reg. Sess., 1992), c. 802, s. 11.)
Structure North Carolina General Statutes
North Carolina General Statutes
Article 48 - Postassessment Insurance Guaranty Association.
§ 58-48-5 - Purpose of Article.
§ 58-48-25 - Creation of the Association.
§ 58-48-30 - Board of directors.
§ 58-48-35 - Powers and duties of the Association.
§ 58-48-40 - Plan of operation.
§ 58-48-42 - Procedure for appeal to Commissioner from decision of Association.
§ 58-48-45 - Duties and powers of the Commissioner.
§ 58-48-50 - Effect of paid claims.
§ 58-48-55 - Nonduplication of recovery.
§ 58-48-60 - Prevention of insolvencies.
§ 58-48-65 - Examination of the Association.
§ 58-48-85 - Stay of proceedings; reopening of default judgments.
§ 58-48-90 - Termination; distribution of funds.
§ 58-48-95 - Use of deposits made by insolvent insurer.
§ 58-48-100 - Statute of repose; guardians ad litem; notice.
§ 58-48-105 - Transfer of balance of security funds.
§ 58-48-110 - Purpose of the accounts.
§ 58-48-120 - Creation of Mutual Fund Account; maintenance of Mutual Fund Account.