§ 58-30-175. Recovery of premiums owed. - North Carolina Statutes

§58‑30‑175.  Recovery of premiums owed.

(a)        An agent, broker,premium finance company, or any other person, other than the insured,responsible for the payment of a premium is obligated to pay an unpaid premiumfor the full policy term due the insurer at the time of the declaration ofinsolvency, whether earned or unearned, as shown on the records of theinsurer.  The liquidator also has the right to recover from such person anypart of an unearned premium that represents commission of such person.  Exceptas provided in G.S. 58‑30‑160, credits or setoffs or both are notallowed to an agent, broker, or premium finance company for any amountsadvanced to the insurer by the agent, broker, or premium finance company onbehalf of, but in the absence of a payment by, the insured.

(b)        An insured isobligated to pay any unpaid premium due the insurer at the time of thedeclaration of insolvency, as shown on the records of the insurer. (1989,c. 452, s. 1.)