§ 58-40-50. Statistical organizations. - North Carolina Statutes

§ 58‑40‑50. Statistical organizations.

(a)        No statisticalorganization shall conduct its operations in this State, and no insurer shallutilize the service of such organization for any purpose enumerated in G.S. 58‑40‑5unless the organization has obtained a license from the Commissioner.

(b)        No statisticalorganization shall refuse to supply any services for which it is licensed inthis State to any insurer admitted to do business in this State and offering topay the fair and usual compensation for the services.

(c)        A statisticalorganization applying for a license shall include with its application:

(1)        A copy of itsconstitution, charter, articles of organization, agreement, association, orincorporation, and a copy of its bylaws, plan of operation, and any other rulesor regulations governing the conduct of its business, all duly certified by thecustodian of the originals thereof;

(2)        A list of itsmembers and subscribers;

(3)        The name and addressof one or more residents of this State upon whom notices, process affecting it,or orders of the Commissioner may be served;

(4)        A statement showingits technical qualifications for acting in the capacity for which it seeks alicense; and

(5)        Any other relevantinformation and documents that the Commissioner may require.

(d)        If the Commissionerdetermines that the applicant and the natural persons through whom it acts arequalified to provide the services proposed, and that all requirements of laware met, he shall issue a license specifying the authorized activity of theapplicant. He shall not issue a license if the proposed activity would tend tocreate a monopoly or to lessen or to destroy price competition. Licenses issuedpursuant to this section shall remain in effect until the licensee withdrawsfrom the State or until the license is suspended or revoked.

(e)        Any change in oramendment to any document required to be filed under this section shall bepromptly filed with the Commissioner.

(f)         Repealed bySession Laws 2005‑210, s. 7, effective October 1, 2005.

(g)        Every statisticalorganization shall file a statistical plan with the Commissioner for approvalfor each line of insurance for which the organization requests to be licensed.The Commissioner may, in the Commissioner's discretion, modify the plan tocollect additional types of data.

(h)        No statisticalorganization shall engage in any unfair or unreasonable practice with respectto its activities.

(i)         A statisticalorganization is considered an insurance company for purposes of theapplicability of G.S. 58‑6‑7. (1977, c. 828, s. 2; 2005‑210, s. 7; 2006‑264,s. 45(a).)