§ 97-45. Reducing to judgment outstanding liability of insurance carriers withdrawing from State. - North Carolina Statutes

§97‑45.  Reducing to judgment outstanding liability of insurance carrierswithdrawing from State.

Upon the withdrawal of anyinsurance carrier from doing business in the State that has any outstandingliability under the Workers' Compensation Act, the Insurance Commissioner shallimmediately notify the North Carolina Industrial Commission, and thereupon thesaid North Carolina Industrial Commission shall issue an award against saidinsurance carrier and commute the installments due  the injured employee oremployees, and immediately have said award docketed in the superior court ofthe county in which the claimant resides, and the said North CarolinaIndustrial Commission shall then cause suit to be brought on said judgment inthe state of the residence of any such insurance carrier, and the proceeds fromsaid judgment after deducting the cost, if any, of the proceeding, shall beturned over to the injured employee, or employees, taking from such employee,or employees, the proper receipt in satisfaction of his claim. (1933,c. 474; 1979, c. 714, s. 2.)