§ 58-3-60. Publication of assets and liabilities; penalty for failure. - North Carolina Statutes

§58‑3‑60.  Publication of assets and liabilities; penalty forfailure.

When any company publishes itsassets, it must in the same connection and with equal conspicuousness publishits liabilities computed on the basis allowed for its annual statements; andany publications purporting to show its capital must exhibit only the amount ofsuch capital as has been actually paid in cash.  Any company or agent thereofwho violates this section shall be guilty of a Class 3 misdemeanor and, uponconviction, shall be punished only by a fine of not less than five hundreddollars ($500.00) nor more than one thousand dollars ($1,000). (1899,c. 54, ss. 18, 96; Rev., ss. 3492, 4812; C.S., s. 6293; 1985, c. 666, s. 14;1993, c. 539, s. 446; 1994, Ex. Sess., c. 24, s. 14(c).)