Every insurance company must be licensed and supervised by the Commissioner, and must pay all licenses, taxes, and fees as prescribed in the insurance laws of the State for the class of company, association, or order to which it belongs. No provision in any statute, public or private, may relieve any company, association, or order from the supervision prescribed for the class of companies, associations, or orders of like character, or release it from the payment of the licenses, taxes, and fees prescribed for companies, associations, and orders of the same class; and all such special provisions or exemptions are hereby repealed. It is unlawful for the Commissioner to grant or issue a license to any company, association, or order, or agent for them, claiming such exemption from supervision by his Department and release for the payment of license, fees, and taxes.
N.C. Gen. Stat. § 58-2-125
Authority over all insurance companies; no exemptions from license
Known as the Examination Law. The purpose of the Examination Law
The act spans §§ 58-2-1 to 58-2-90 (60 sections).
Applied in 1 court decision — leading case 124 N.C. App. 435 - Hallman v. Charlotte-Mecklenburg Board of Education (1996)
Most recently applied in 124 N.C. App. 435 - Hallman v. Charlotte-Mecklenburg Board of Education (November 1996)
1903, c. 594, ss. 1, 2, 3; Rev., s. 4691; C.S., s. 6274; 1945, c. 383; 1991, c. 720, s. 4.
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.