§ 20-279.33. Self-insurers. - North Carolina Statutes

§ 20‑279.33.  Self‑insurers.

(a)        Any person in whosename more than 25 motor vehicles are registered may qualify as a self‑insurerby obtaining a certificate of self‑insurance issued by the Commissioneras provided in subsection (b) of this section. For the purpose of this Article,the State of North Carolina shall be considered a self‑insurer.

(b)        The Commissionermay, in his discretion, upon the application  of such a person, issue acertificate of self‑insurance when he is satisfied that such person is possessedand will continue to be possessed of ability to pay judgments obtained againstsuch person.

(c)        Upon not less thanfive days' notice and a hearing pursuant to such notice, the Commissioner mayupon reasonable grounds cancel a certificate of self‑insurance. Failureto pay any judgment within 30 days after such judgment shall have become finalshall constitute a reasonable ground for the cancellation of a certificate ofself‑insurance. (1953, c. 1300, s. 33.)