N.C. Gen. Stat. § 58-10-145
Monoline requirement for mortgage guaranty insurers
Redline — June 1, 2021 → current.View current text →
Current — April 1, 2022
As of June 1, 2021
A mortgage guaranty insurance company that transacts any kind of insurance other than mortgage guaranty insurance is not eligible to transact business in this State. Provided, however, that a mortgage guaranty insurance company may, until December 31, 2012, assume reinsurance for "credit insurance," as defined in G.S. 58-7-15(17).
A mortgage guaranty insurance company that transacts any kind of insurance other than mortgage guaranty insurance is not eligible to transact business in this State. Provided, however, that a mortgage guaranty insurance company may, until December 31, 2012, assume reinsurance for “credit insurance,” as defined in G.S. 58-7-15(17).
History
(2007-127, s. 7; 2008-124, s. 2.2.)
Effect of Amendments. - Session Laws 2008-124, s. 2.2, effective July 28, 2008, substituted "Monoline" for "Mono-line" in the section heading.
PART 6. PROPERTY AND CASUALTY ACTUARIAL OPINIONS.
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.