The purpose of this Article is to regulate trade practices in the business of insurance in accordance with the intent of Congress as expressed in the Act of Congress of March 9, 1945 (Public Law 15, 79th Congress), by defining, or providing for the determination of, all such practices in this State which constitute unfair methods of competition or unfair or deceptive acts or practices and by prohibiting the trade practices so defined or determined.
N.C. Gen. Stat. § 58-63-1
Declaration of purpose
Applied in 3 court decisions — leading case 177 N.C. App. 595 - Nelson v. Hartford Underwriters Insurance (2006)
Most recently applied in 194 N.C. App. 108 - Defeat the Beat, Inc. v. Underwriters at Lloyd's London (December 2008)
1949, c. 1112.
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.