§ 58-29-10. Unlawful advertising; notice to unauthorized insurer and domiciliary insurance supervisory official. - North Carolina Statutes

§58‑29‑10.  Unlawful advertising; notice to unauthorized insurer anddomiciliary insurance supervisory official.

No unauthorized foreign oralien insurer shall make, issue, circulate or cause to be made, issued orcirculated, to residents of this State any estimate, illustration, circular,pamphlet, or letter, or cause to be made in any newspaper, magazine or otherpublication or over any radio or television station, any announcement orstatement to such residents misrepresenting its financial condition or theterms of any contracts issued or to be issued or the benefits or advantagespromised thereby, or the dividends or share of the surplus to be receivedthereon in violation of the Unfair Trade Practice Act, and whenever theCommissioner shall have reason to believe that any such insurer is engaging insuch unlawful advertising, it shall be his duty to give notice of such fact byregistered mail to such insurer and to the insurance supervisory official ofthe domiciliary state of such insurer. For the purpose of this section, thedomiciliary state of an alien insurer shall be deemed to be the state of entryor the state of the principal office in the United States. (1965,c. 910.)