§ 58-44-115. Commissioner's review. - North Carolina Statutes

§ 58‑44‑115. Commissioner's review.

If the insured rescinds asettlement agreement in accordance with G.S. 58‑44‑105(c), theCommissioner may review the settlement agreement to determine if the agreementwas fair to the parties to the agreement. If the Commissioner, upon review andwithin 10 business days after receiving notice of the rescission, deems that itwas fair to the parties, the insured, upon notice from the Commissioner, maywithdraw the rescission within five business days after receipt of notice fromthe Commissioner and reinstate the settlement agreement as if no rescission hadtaken place. The Commissioner's review and findings shall not be offered oraccepted as evidence in any subsequent proceedings. (2006‑145, s. 1.)