N.C. Gen. Stat. § 58-33-40

Appointment of agents

Redline — June 1, 2021 → current.View current text →

Current — April 1, 2022

As of June 1, 2021

(1) Except as provided in subsection (b) of this section, no individual who holds a valid insurance agent's license issued by the Commissioner shall, either directly or for an insurance agency, solicit, negotiate, or otherwise act as an agent for an insurer by which the individual has not been appointed.

(1) Except as provided in subsection (b) of this section, no individual who holds a valid insurance agent’s license issued by the Commissioner shall, either directly or for an insurance agency, solicit, negotiate, or otherwise act as an agent for an insurer by which the individual has not been appointed.

(2) Any insurer authorized to transact business in this State may appoint as its agent any individual who holds a valid agent's license issued by the Commissioner. To appoint an individual as its agent, the appointing insurer shall file, in a format approved by the Commissioner, a notice of appointment within 15 days after the date the first insurance application is submitted. The individual shall be authorized to act as an agent for the appointing insurer for the kinds of insurance for which the insurer is authorized in this State and for which the appointed agent is licensed in this State, unless specifically limited. For purposes of determining the number of appointments for an agent, there shall be one appointment for each kind of insurance for which the appointed agent is licensed in this State, unless specifically limited.

(2) Any insurer authorized to transact business in this State may appoint as its agent any individual who holds a valid agent’s license issued by the Commissioner. To appoint an individual as its agent, the appointing insurer shall file, in a format approved by the Commissioner, a notice of appointment within 15 days after the date the first insurance application is submitted. The individual shall be authorized to act as an agent for the appointing insurer for the kinds of insurance for which the insurer is authorized in this State and for which the appointed agent is licensed in this State, unless specifically limited. For purposes of determining the number of appointments for an agent, there shall be one appointment for each kind of insurance for which the appointed agent is licensed in this State, unless specifically limited.

(3) Repealed by Session Laws 2009-566, s. 9, effective August 28, 2009.

(4) Every insurer shall remit in a manner prescribed by the Commissioner the appointment fee specified in G.S. 58-33-125 for each appointed agent.

(5) An appointment shall continue in effect as long as the appointed agent is properly licensed and the appointing insurer is authorized to transact business in this State, unless the appointment is cancelled.

(6) Prior to April 1 of each year, every insurer shall remit in a manner prescribed by the Commissioner the renewal appointment fee specified in G.S. 58-33-125.

(7) Any agent license in effect on February 1, 1988, shall be deemed to be an appointment for the unexpired term of that license.

(8) Repealed by Session Laws 2009-566, s. 9, effective August 28, 2009.

History

(1987, c. 629, s. 1; 2001-203, s. 14; 2009-383, s. 3; 2009-566, ss. 7-9.)

Effect of Amendments. - Session Laws 2009-383, s. 3, effective October 1, 2009, in subsection (b), substituted "the kinds" for "all kinds" in the second sentence, and added the last sentence.

Session Laws 2009-566, ss. 7-9, effective August 28, 2009, added "Except as provided in subsection (b) of this section," at the beginning of subsection (a); in subsection (b), inserted the present second sentence and deleted "Upon the appointment," at the beginning of the present third sentence; and repealed subsections (c) and (h) pertaining to filing of forms by insurer for newly appointed agents and refusal by insurer of applications from individuals not currently appointed by an insurer.

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.