§ 58-30-127. Duties of agents. - North Carolina Statutes

§58‑30‑127.  Duties of agents.

(a)        Every person whoreceives notice in the form prescribed in G.S. 58‑30‑125 that aninsurer that person represents as an agent is the subject of a liquidationorder shall, upon request of the liquidator and within 60 days after receipt ofthe request, provide to the liquidator the information in the agent's recordsrelated to any policy issued by the insurer through the agent; and if the agentis a general agent, the information in the general agent's records related to anypolicy issued by the insurer through a subagent under contract with the generalagent, including the name and address of the subagent.

(b)        For the purpose ofthis section, a policy is issued through an agent if the agent has a propertyinterest in the expiration of the policy or if the agent has had in the agent'spossession a copy of the declarations of the policy at any time during the lifeof the policy, except where the ownership of the expiration of the policy hasbeen transferred to another person.

(c)        Any agent failingto provide information to the liquidator as required by this section is to besubject to G.S. 58‑2‑70.

(d)        The provisions ofthis section are in addition to any other duties in this Chapter that areplaced on agents. (1991, c. 681, s. 45.)