58-48-5. Purpose of Article.
The purpose of this Article is to provide a mechanism for the payment of covered claims under certain insurance policies, to avoid excessive delay in payment, and to avoid financial loss to claimants or policyholders because of the insolvency of an insurer, to assist in the detection and prevention of insurer insolvencies, and to provide an association to assess the cost of such protection among insurers. (1971, c. 670, s. 1.)
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.