§ 58-10-120. Definitions. - North Carolina Statutes

Part 5. Mortgage GuarantyInsurance.

§ 58‑10‑120. Definitions.

As used in this Part:

(1)        "Mortgageguaranty insurers report of policyholders position" means thesupplementary report required by the Commissioner.

(2)        "Policyholdersposition" means the contingency reserve established under G.S. 58‑10‑135and policyholders' surplus. "Minimum policyholders position" iscalculated as described in G.S. 58‑10‑125.

(3)        "Policyholderssurplus" means an insurer's net worth; the difference between its assetsand liabilities, as reported in its annual statement. (2001‑223, s. 11; 2005‑215,s. 11.)