§ 58-6-15. Annual license continuation fee definition; requirements. - North Carolina Statutes

§ 58‑6‑15.  Annuallicense continuation fee definition; requirements.

For purposes of this Chapteronly, "annual license continuation fee" means the fee specified inG.S. 58‑6‑7 submitted to the Commissioner for each year the licenseis in effect after the company's year of initial licensing. The annual licensecontinuation fee must be submitted annually on or before the first day of Marchfor as long as the license is to remain in effect. If the Commissioner issatisfied that the company has met all requirements of law and appears to befinancially solvent, the Commissioner shall not revoke or suspend the licenseof the company, and the company shall be authorized to do business in thisState, subject to all other applicable provisions of the insurance laws of thisState. Nothing contained in this section shall be interpreted as applying tolicenses issued to individual representatives of insurance companies. (1899, c. 54, s. 78; Rev., s.4718; C.S., s. 6321; 1955, c. 179, s. 1; 1987, c. 629, s. 16; 1989 (Reg. Sess.,1990), c. 1069, s. 3; 1995, c. 507, s. 11A(c); 2003‑212, s. 26(d); 2005‑215,s. 5.)