§ 58-46-10. Participation in association. - North Carolina Statutes

§58‑46‑10.  Participation in association.

(a)        Every insurerauthorized to write basic property insurance in this State except town andcounty mutual insurance associations and assessable mutual companies asauthorized by G.S. 58‑7‑75(5)b, 58‑7‑75(5)d and 58‑7‑75(7)band except an insurer who only writes insurance on property exempted fromtaxation by the provisions of G.S. 105‑278.1 through 105‑278.8shall be required to become and remain a member of the Plan and underwritingassociation and comply with the requirements thereof as a condition of itsauthority to transact basic property insurance business in the State of NorthCarolina.

(b)        An agent who islicensed under Article 33 of this Chapter as an agent of a company which is amember of the Association established under this Article shall not be deemed anagent of the Association. (1969, c. 1284; 1971, c. 1067, s. 1; 1985, c. 519, s.3; 1987, c. 629, s. 12; 1991, c. 720, s. 24.)