N.C. Gen. Stat. § 58-42-20
Classification and rates
Redline — June 1, 2021 → current.View current text →
Current — April 1, 2022
As of June 1, 2021
Each plan shall provide for:
Each plan shall provide for:
(1) The method of classifying risks;
(1) The method of classifying risks;
(2) The making and filing of rates that are not excessive, inadequate, or unfairly discriminatory and that are calculated on an actuarially sound basis and policy forms applicable to the various risks insured by the plan;
(2) The making and filing of rates that are not excessive, inadequate, or unfairly discriminatory and that are calculated on an actuarially sound basis and policy forms applicable to the various risks insured by the plan;
(3) The adjusting and processing of claims;
(3) The adjusting and processing of claims;
(4) The commission rates to be paid to agents or brokers for coverages written by the plan; and
(4) The commission rates to be paid to agents or brokers for coverages written by the plan; and
(5) Any other insurance or investment functions that are necessary for the purpose of providing adequate and readily accessible coverage.
(5) Any other insurance or investment functions that are necessary for the purpose of providing adequate and readily accessible coverage.
History
(1986, Ex. Sess., c. 7, s. 1; 1999-114, s. 1.)
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.