§ 58-15-135. Assessments. - North Carolina Statutes

§58‑15‑135.  Assessments.

(a)        Assessments may belevied upon the subscribers of a domestic reciprocal by the attorney inaccordance with G.S. 58‑15‑60.  The assessments shall be approvedin advance by the subscribers' advisory committee.

(b)        Each domesticreciprocal subscriber's share of an assessment shall be computed by multiplyingthe premiums earned on the subscriber's policies during the period to becovered by the assessment by the ratio of the total assessment to the totalpremiums earned during the period upon all policies subject to the assessment. However, no assessment shall exceed the aggregate contingent assessmentliability computed in accordance with G.S. 58‑15‑60.  For thepurposes of this section, the premiums earned on the subscriber's policies arethe gross premiums charged by the reciprocal for the policies minus any chargesnot recurring upon the renewal or extension of the policies.  No subscribershall have an offset against any assessment for which he is liable on accountof any claim for unearned premium or losses payable. (1989,c. 425, s. 1.)