§ 58-2-163. Report to Commissioner. - North Carolina Statutes

§ 58‑2‑163. Report to Commissioner.

Whenever any insurancecompany, or employee or representative of such company, or any other personlicensed or registered under Articles 1 through 67 of this Chapter knows or hasreasonable cause to believe that any other person has violated G.S. 58‑2‑161,58‑2‑162, 58‑2‑164, 58‑2‑180, 58‑8‑1,58‑24‑180(e), or whenever any insurance company, or employee orrepresentative of such company, or any other person licensed or registeredunder Articles 1 through 67 of this Chapter knows or has reasonable cause tobelieve that any entity licensed by the Commissioner is financially impaired,it is the duty of such person, upon acquiring such knowledge, to notify theCommissioner and provide the Commissioner with a complete statement of all ofthe relevant facts and circumstances. Such report is a privilegedcommunication, and when made without actual malice does not subject the personmaking the same to any liability whatsoever. The Commissioner may suspend,revoke, or refuse to renew the license of any licensee who willfully fails tocomply with this section. (1945, c. 382; 1987, c. 752, s. 2; 1989 (Reg. Sess.,1990), c. 1054, s. 2; 2007‑443, s. 4.)