§ 58-8-50. Guaranty against assessments prohibited. - North Carolina Statutes

§ 58‑8‑50. Guaranty against assessments prohibited.

If any director, officer, oragent of a mutual insurance company, either officially or privately, gives aguarantee to a policyholder of the company against an assessment to which thatpolicyholder would otherwise be liable, the director, officer, or agent shallbe punished by a fine not exceeding one thousand dollars ($1,000) for eachoffense. (1899,c. 54, s. 100; Rev., s. 3496; C.S., s. 6352; 1945, c. 386; 2003‑212, s.16.)