NORTH CAROLINA GENERAL ASSEMBLY

1979 SESSION

 

 

CHAPTER 295

HOUSE BILL 567

 

 

AN ACT TO AMEND THE GENERAL STATUTES TO PROVIDE THAT FOR PURPOSES OF ASSESSMENT UNDER ARTICLE 17B OF CHAPTER 58, PREMIUMS OTHERWISE REPORTABLE BY ASSOCIATIONS ADMINISTERING THE FAIR AND BEACH PLANS SHALL BE DEEMED TO BE THE PREMIUMS OF THE INSURERS PARTICIPATING IN THOSE PLANS.

 

The General Assembly of North Carolina enacts:

 

Section 1.  G.S. 58-155.48(a)(3) is amended by adding the words "or association" after the words "servicing insurer" so that the end of the second sentence shall read as follows:

"; provided, for purposes of assessment only, premiums otherwise reportable by a servicing insurer or association under any plan of operation approved by the Commissioner of Insurance under Articles 18A or 18B of this Chapter shall not be deemed to be the net direct written premiums of such servicing insurer or association, but shall be deemed to be the net direct written premiums of the individual insurers to the extent provided for in any such plan of operation."

Sec. 2.  All laws and clauses of laws in conflict with this act are amended.

Sec. 3.  This act is effective upon ratification.

In the General Assembly read three times and ratified, this the 5th day of April, 1979.