§ 58-5-105. Deposits by life companies not chartered in United States. - North Carolina Statutes

§58‑5‑105.  Deposits by life companies not chartered in UnitedStates.

Every alien life insurancecompany organized under the laws of any other country than the United Statesmust have and keep on deposit with some state insurance department or in thehands of trustees, in exclusive trust for the security of its contracts withpolicyholders in the United States, funds of an amount equal to the net valueof all its policies in the United States and not less than three hundredthousand dollars ($300,000). (1899, c. 54, s. 56; Rev., s.4712; C.S., s. 6316; 1945, c. 384.)