N.C. Gen. Stat. § 58-5-71
Liens of policyholders; subordination
Redline — June 1, 2021 → current.View current text →
Current — April 1, 2022
As of June 1, 2021
Liens against the deposit of a foreign insurer under G.S. 58-5-70 shall be subordinated to the reasonable and necessary expenses of the Commissioner in liquidating the deposit and paying the special deposit claims. "Special deposit claims" has the same meaning set forth in G.S. 58-30-10(19).
Liens against the deposit of a foreign insurer under G.S. 58-5-70 shall be subordinated to the reasonable and necessary expenses of the Commissioner in liquidating the deposit and paying the special deposit claims. “Special deposit claims” has the same meaning set forth in G.S. 58-30-10(19).
History
(1993 (Reg. Sess., 1994), c. 678, s. 7; 2008-124, s. 2.4.)
Effect of Amendments. - Session Laws 2008-124, s. 2.4, effective July 28, 2008, added the last sentence.
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.