§ 58-73-25. Failure to pay judgment is forfeiture. - North Carolina Statutes

§58‑73‑25.  Failure to pay judgment is forfeiture.

If a surety company againstwhich a judgment is recovered fails to discharge the same within 60 days fromthe time such final judgment is rendered, it shall forfeit its right to dobusiness in this State, and the Insurance Commissioner shall cancel itslicense. (1901, c. 706, s. 1, subsec. 5; Rev., s. 275; C.S., s.343.)