§ 97-93. Employers required to carry insurance or prove financial ability to pay for benefits; employers required to post notice; self-insured employers regulated by Commissioner of Insurance. - North Carolina Statutes

§97‑93.  Employers required to carry insurance or prove financial abilityto pay for benefits; employers required to post notice; self‑insuredemployers regulated by Commissioner of Insurance.

(a)        Every employersubject to the provisions of this Article relative to the payment ofcompensation shall either:

(1)        Insure and keepinsured his liability under this Article in any authorized corporation,association, organization, or in any mutual insurance association formed by agroup of employers so authorized; or

(2)        Repealed by SessionLaws 1997‑362, s. 5.

(3)        Obtain a licensefrom the Commissioner of Insurance under Article 5 of this Chapter or underArticle 47 of Chapter 58 of the General Statutes.

(b)        through (d)Repealed by Session Laws 1997‑362, s. 5.

(e)        Every employer whois in compliance with the provisions of subsection (a) of this section shallpost in a conspicuous place in places of employment a notice stating thatemployment by this employer is subject to the North Carolina Workers'Compensation Act and stating whether the employer has a policy of insuranceagainst liability or qualifies as a self‑insured employer. In the eventthe employer allows its insurance to lapse or ceases to qualify as a self‑insuredemployer, the employer shall, within five working days of this occurrence,remove any notices indicating otherwise. (1929, c. 120, s. 67; 1943,c. 543; 1973, c. 1291, s. 12; 1979, c. 345; 1983, c. 728; 1985, c. 119, s. 1;1993, c. 120, ss. 1, 2; 1993 (Reg. Sess., 1994), c. 679, s. 8.2; 1995, c. 193,s. 64; c. 471, s. 1; 1997‑362, s. 5.)