§ 58-35-75. Statement of account; release on payment in full. - North Carolina Statutes

§58‑35‑75.  Statement of account; release on payment in full.

(a)        At any time afterits execution, but not later than one year after the last payment thereunder,an insurance premium finance company holding an insurance premium financeagreement shall, upon written request of the insured, give or mail to him awritten statement of the dates and amounts of payments and the total amount, ifany, unpaid thereunder.

(b)        After the paymentof all sums for which an insured is obligated under an insurance premium financeagreement, and upon his written demand, the insurance premium finance companyholding the agreement shall deliver, or mail to the insured at his last knownaddress, such one or more good and sufficient instruments as may be necessaryto acknowledge payment in full and to release all interest in or rights to theinsurance contracts, the premiums for which were advanced or are to be advancedunder the agreement. (1963, c. 1118.)