§ 97-136. Powers and duties of the Commissioner. - North Carolina Statutes

§ 97‑136.  Powers andduties of the Commissioner.

(a)        The Commissionershall:

(1)        Notify theAssociation of the existence of an insolvent member self‑insurer notlater than 30 days after he receives notice of an insolvency pursuant to thestandards set forth in G.S. 97‑135.

(2)        Approve ordisapprove the plan for an Association Aggregate Security System as requiredunder G.S. 97‑133(a)(2a)b. and notify the Association of the informationrequired under G.S. 97‑133(a)(2a)c.

(b)        The Commissionermay:

(1)        Require that theAssociation notify the insureds of the insolvent member self‑insurer andany other interested parties of the insolvency and of their rights under thisArticle. The notifications shall be by mail at their last known addresses,where available; but if required information for notification is not available,notice by publication in a newspaper of general circulation in this State shallbe sufficient; and

(2)        Revoke thedesignation of any servicing facility if the Commissioner finds claims arebeing handled unsatisfactorily. (1985 (Reg. Sess., 1986), c. 1013, s. 1; 2005‑400,s. 6.2.)