§ 58-71-115. Insurers to annually report surety bondsmen; notices of appointments and terminations; information confidential. - North Carolina Statutes

§ 58‑71‑115. Insurers to annually report surety bondsmen; notices of appointments andterminations; information confidential.

(a)        Before July 1 ofeach year, every insurer shall furnish the Commissioner a list of all suretybondsmen appointed by the insurer to write bail bonds on the insurer's behalf.An insurer who appoints a surety bondsman in the State on or after July 1 ofeach year shall notify the Commissioner of the appointment. All appointmentsare subject to the issuance of the proper license to the appointee under thisArticle.

(b)        An insurerterminating the appointment of a surety bondsman shall file a written notice ofthe termination with the Commissioner, together with a statement that theinsurer has given or mailed notice of the termination to the surety bondsman.The notice to the Commissioner shall state the reasons, if any, for thetermination. Information furnished in the notice to the Commissioner shall beprivileged and shall not be used as evidence in or basis for any action againstthe insurer or any of its representatives. (1963, c. 1225, s. 24; 1975, c. 619, s. 1; 1995 (Reg.Sess., 1996), c. 726, s. 18; 2007‑507, s. 12.)