This Part provides a basis for the creation of protected cells by a domestic insurer as one means of accessing alternative sources of capital and achieving the benefits of insurance securitization. Investors in fully funded insurance securitization transactions provide funds that are available to pay the insurer's insurance obligations or to repay the investors or both. The creation of protected cells is intended to be a means to achieve more efficiencies in conducting insurance securitizations.
N.C. Gen. Stat. § 58-10-75
Purpose and legislative intent
Known as the North Carolina Captive Insurance Act
The act spans §§ 58-10-1 to 58-10-95 (145 sections).
2001-223, s. 25.
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.