§ 58-58-20. Tie-in sales with life insurance prohibited. - North Carolina Statutes

§58‑58‑20.  Tie‑in sales with life insurance prohibited.

No life insurance companyshall hereafter deliver in this State, as a part of or in combination with anyinsurance, endowment or annuity contract, any agreement or plan, additional tothe rights, dividends, and benefits arising out of any such insurance,endowment, or annuity contract which provides for the sale, solicitation, ordelivery of any stock or shares of stock in the company issuing the policy orin any other insurance company or other corporation, or benefit certificate,securities, or any special advisory board contract, or other contracts orresolutions of any kind promising returns and profits, or dividends equivalentto stock dividends as an inducement to or in connection with the sale of theinsurance or to the taking of the policy. Nothing herein contained shall beconstrued as prohibiting any participating insurer from distributing to itspolicyholders dividends, savings or the unused or unabsorbed portion ofpremiums and premium deposits. (1957, c. 752.)