§ 58-14-15. Penalties provided for unauthorized acts. - North Carolina Statutes

§58‑14‑15.  Penalties provided for unauthorized acts.

When any domestic insurerknowingly engages in the practice of soliciting, advertising or makingcontracts for insurance in states or jurisdictions in which it is not licensed,the Commissioner may issue an order requiring the company to cease and desistfrom engaging in such activities and, for the purposes of this section, theacts prohibited by G.S. 58‑14‑10 and the foregoing sections, aredeclared to be an unfair trade practice within the meaning of G.S. 58‑63‑15and G.S. 58‑63‑40. When the Commissioner has reason to believe thatany domestic company has been engaged or is engaging in the practice ofknowingly soliciting, advertising or writing contracts of insurance on riskswithin a state or jurisdiction in which it is not licensed, the Commissionershall serve the company with notice of hearing and the hearing shall conformwith the hearing procedure set forth in G.S. 58‑63‑25. Any actiontaken by the Commissioner after the hearing shall comply with G.S. 58‑63‑32,and any company aggrieved by an order of the Commissioner is entitled to thejudicial review provided in G.S. 58‑63‑35. (1967,c. 935, s. 1; 1991, c. 720, ss. 4, 54; 1995, c. 193, s. 24; 1995 (Reg. Sess.,1996), c. 742, s. 23.)