NORTH CAROLINA GENERAL ASSEMBLY

1973 SESSION

CHAPTER 1130

SENATE BILL 1377

AN ACT REGARDING THE PUBLICATION OF FINANCIAL INFORMATION BY INSURERS.

The General Assembly of North Carolina enacts:

Section 1.  Chapter 58 of the General Statutes is amended by inserting a new section immediately following G.S. 58-34 to be designated G.S. 58-34.1, and to read as follows:

"§ 58-34.1.  Publication of financial information. — Notwithstanding any other provision of the laws of this State an insurer may, subject to requirements set forth by regulation promulgated by the Commissioner, publish financial statements or information based on financial statements prepared on a basis which is in accordance with requirements of a competent authority and which differs from the basis of the statements which have been filed with the Insurance Commissioner. Such differing financial statements or information based on financial statements shall not be made the basis for the application of provisions of any laws of this State not relating solely to the publication of financial information unless such provisions specifically so require."

Sec. 2.  This act shall become effective upon ratification.

In the General Assembly read three times and ratified, this the 3rd day of April, 1974.