Public-domain · open source
OpenJurist

N.C. Gen. Stat. § 58-10-120

Definitions

Known as the North Carolina Captive Insurance Act

The act spans §§ 58–58 (145 sections).

2001-223, s. 11; 2005-215, s. 11.

As used in this Part:

(1) "Mortgage guaranty insurers report of policyholders position" means the supplementary report required by the Commissioner.

(2) "Policyholders position" means the contingency reserve established under G.S. 58-10-135 and policyholders' surplus. "Minimum policyholders position" is calculated as described in G.S. 58-10-125.

(3) "Policyholders surplus" means an insurer's net worth; the difference between its assets and liabilities, as reported in its annual statement.

Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.