If any corporation or association transacting insurance business in this State on the assessment plan or issuing any policy upon the life of a resident of North Carolina upon the assessment plan shall fail or refuse to comply with G.S. 58-11-10, the Commissioner shall forthwith suspend or revoke all authority of such corporation or association and of its agents to do business in this State.
N.C. Gen. Stat. § 58-11-15
Revocation for noncompliance
1913, c. 159, s. 2; C.S., s. 6359; 1991, c. 720, ss. 4, 13.
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.