§ 58-65-125. Revocation and suspension of license; unfair trade practices. - North Carolina Statutes

§ 58‑65‑125. Revocation and suspension of license; unfair trade practices.

(a)        The Commissionermay revoke or suspend the license of any service corporation if:

(1)        The servicecorporation fails or refuses to comply with any law, order, or rule applicableto the service corporation.

(2)        The servicecorporation's financial condition is unsound.

(3)        The servicecorporation has published or made to the Department or to the public any falsestatement or report.

(4)        The servicecorporation refuses to submit to any examination authorized by law.

(5)        The servicecorporation is found to make a practice of unduly engaging in litigation or ofdelaying the investigation of claims or the adjustment or payment of validclaims.

(b)        Any suspension orrevocation of a service corporation's license under this section may also bemade applicable to the license or registration of any natural person regulatedunder this Chapter who is a party to any of the causes for licensing sanctionslisted in subsection (a) of this section.

(c)        Article 63 of thisChapter applies to service corporations and their agents and representatives. (1941, c. 338, s. 13; 1943,c. 537, s. 8; 1971, c. 1080, s. 3; 1999‑244, s. 3; 1999‑351, s. 8;2003‑212, s. 26(k).)