North Carolina General Statutes § 58-48-110 Purpose of the accounts
Legal Research Home >
North Carolina Lawyer
The purpose of the accounts created in the Association pursuant to G.S. 58‑48‑115 and G.S. 58‑48‑120 of this Article shall be solely to:
(1) Receive the balance from the accounts created under former G.S. 97‑107 and G.S. 97‑114;
(2) Receive assessment moneys from member companies as provided in G.S. 58‑48‑115(a)(3), 58‑48‑120(b), and 58‑48‑120(c);
(3) Receive interest on moneys in the accounts;
(4) Pay stock or mutual carrier claims made against the security funds established under G.S. 97‑107 and G.S. 97‑114, but only for claims existing before January 1, 1993; and
(5) Refund to the contributing stock companies in accordance with G.S. 58‑48‑115 the excess moneys in the stock fund account as set forth in G.S. 58‑48‑115(a)(2). (1991 (Reg. Sess., 1992), c. 802, s. 7.)
Sections: 58-48-70 58-48-80 58-48-85 58-48-90 58-48-95 58-48-100 58-48-105 58-48-110 58-48-115 58-48-120 58-48-125 58-48-130 58-49-1 58-49-5 58-49-10
Last modified: February 21, 2012
|
