N.C. Gen. Stat. § 58-15-140
Duration of liability for assessment
North Carolina · North Carolina General Statutes Chapter 58 — Chapter 58. · Status: effective
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- N.C. Gen. Stat. § 58-15-140, Duration of liability for assessment, North Carolina, version 1 as recorded 2026-08-18, yourstate.us, https://yourstate.us/provision/1315367
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Full text
Duration of liability for assessment. Every subscriber of a domestic reciprocal having contingent assessment liability shall be liable for and shall pay his share of any assessment computed in accordance with this Part, if, while the policy is in force or for such period after its termination as the Commissioner may establish by rule, the subscriber is notified (i) by the attorney of his intention to levy the assessment or (ii) that delinquency proceedings have been commenced against the reciprocal under the provisions of Article 30 of this Chapter, and the Commissioner or receiver intends to levy an assessment. In adopting such rules the Commissioner may take into account factors including the kinds of insurance issued by such reciprocals. (1989, c. 425, s. 1, c. 770, s. 70; 1989 (Reg. Sess., 1990), c. 1021, s. 1.)