§ 58-53-55. Time limit. - North Carolina Statutes

§58‑53‑55.  Time limit.

In order to be eligible forconversion, written application and the first premium payment for the convertedpolicy must be made to the insurer not later than 31 days after the date oftermination of insurance provided under Part 1 of this Article. The effectivedate of the converted policy shall be the day following the later of:

(1)        The termination ofinsurance under the group policy when it is not replaced by one providingsimilar coverage within 31 days of the termination date of the immediatelyprior group plan; or

(2)        The termination ofthe period of continued coverage under the group policy or policies. (1981,c. 706, s. 1; 1993 (Reg. Sess., 1994), c. 569, s. 10; 1997‑259, s. 14.)