§ 58-48-5. Purpose of Article. - North Carolina Statutes

§58‑48‑5.  Purpose of Article.

The purpose of this Article isto provide a mechanism for the payment of covered claims under certaininsurance policies, to avoid excessive delay in payment, and to avoid financialloss to claimants or policyholders because of the insolvency of an insurer, toassist in the detection and prevention of insurer insolvencies, and to providean association to assess the cost of such protection among insurers. (1971,c. 670, s. 1.)