N.C. Gen. Stat. § 58-10-45
Commissioner's discretion
North Carolina · North Carolina General Statutes Chapter 58 — Chapter 58. · Status: effective
Cite this
- Citation
- N.C. Gen. Stat. § 58-10-45, Commissioner's discretion, North Carolina, version 1 as recorded 2026-08-18, yourstate.us, https://yourstate.us/provision/1315166
- Permanent ID
ys:prov:1315166@1- SHA-256
a3e19d3c27e45abdcd684b71c0191f0690e44d110a026d5325682bedffa56168
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
Commissioner's discretion. If a domestic insurer or a foreign insurer from a state having a substantially similar law is deemed by its domiciliary insurance regulator to be in hazardous financial condition or a proceeding has been instituted against it for the purpose of reorganizing or conserving the insurer, and the transfer of the policies is in the best interest of the policyholders, as determined by the domiciliary insurance regulator, a transfer and novation may be effected notwithstanding the provisions of this Part. This may include a form of implied consent and adequate notification to the policyholders of the circumstances requiring the transfer as approved by the Commissioner. (1995, c. 318, s. 1.) Part 3. Disclosure of Material Transactions.