§ 58-15-145. Distribution of assets after liquidation. - North Carolina Statutes

§58‑15‑145.  Distribution of assets after liquidation.

Upon the liquidation of adomestic reciprocal, the assets remaining after (i) discharge of itsindebtedness and policy obligations, (ii) the return of any contributions ofthe attorney or other person made as provided in G.S. 58‑15‑130,and (iii) the return of any unused deposits, savings, or credits, shall bedistributed.  The distribution shall be according to a formula approved by theCommissioner or the Court to the persons who were its subscribers within the 12months prior to the final termination of its license. (1989,c. 425, s. 1.)