§ 58-46-40. Assessment; inability to pay. - North Carolina Statutes

§58‑46‑40.  Assessment; inability to pay.

In the event any insurer failsby reason of insolvency to pay any assessment as provided herein, the amountassessed each insurer shall be immediately recalculated excluding therefrom theinsolvent insurer so that its assessment is, in effect, assumed andredistributed among the remaining insurers.  Such an assessment against aninsolvent insurer shall not be a charge against any special deposit fund heldunder the provisions of Article 5 of this Chapter for the benefit ofpolicyholders. (1969, c. 1284; 1985, c. 519, s. 7; 1991, c. 720, s.26.)