N.C. Gen. Stat. § 58-42-5

(1) Each plan promulgated or prepared pursuant to G.S. 58-42-1 shall: Give consideration to: The need for adequate and readily accessible coverage;

(2) Optional methods of improving the market affected;

(3) The inherent limitations of the insurance mechanism;

(4) The need for reasonable underwriting standards; and

(5) The requirement of reasonable loss prevention measures;

(6) Establish procedures that will create minimum interference with the voluntary market;

(7) Distribute the obligations imposed by the plan, and any profits or losses experienced by the plan, equitably and efficiently among the participating insurers; and

(8) Establish procedures for applicants and participants to have their grievances reviewed by an impartial body. The filing and processing of a grievance pursuant to this subdivision does not stay the requirement for participation in a plan mandated by G.S. 58-42-10.

(9) Each plan may, on behalf of its participants: Issue policies of insurance to eligible applicants;

(10) Underwrite, adjust, and pay losses on insurance issued by the plan;

(11) Appoint a service company or companies to perform the functions enumerated in this subsection; and

(12) Obtain reinsurance for any part or all of its risks.