§ 58-31-20. Use and occupancy and business interruption insurance. - North Carolina Statutes

§58‑31‑20.  Use and occupancy and business interruption insurance.

Upon request of any Statedepartment, agency or institution, use and occupancy and business interruptioninsurance shall be provided on state‑owned property of such department,agency or institution which is insured by the State Property Fire InsuranceFund.  Premiums for such insurance coverage shall be paid by each requestingdepartment, agency or institution in accordance with rates fixed by theCommissioner.  Losses covered by such insurance may be paid for out of theState Property Fire Insurance Fund in the same manner as fire losses.  TheCommissioner, with the approval of the Governor and Council of State, isauthorized and empowered to purchase from insurers admitted to do business inNorth Carolina such insurance or reinsurance as may be necessary to protect theState Property Fire Insurance Fund against loss with respect to such insurancecoverage. (1957, c. 67; 1991, c. 720, s. 4.)