§ 58-7-160. Investments unlawfully acquired. - North Carolina Statutes

§58‑7‑160.  Investments unlawfully acquired.

Whenever it appears byexamination as authorized by law that a domestic insurer has acquired anyassets in violation of the law in force on the date of the acquisition, theCommissioner shall disallow the amount of the assets, if wholly ineligible, orthe amount of the value thereof in excess of any limitation prescribed by thisChapter and shall deduct that amount as a nonadmitted asset of the insurer. (1991,c. 681, s. 29.)