GENERAL ASSEMBLY OF NORTH CAROLINA
1985 SESSION
CHAPTER 305
The General Assembly of North Carolina enacts:
Section 1. General Statutes Chapter 58 is amended by adding a new Article to read:
"Article 2A.
"NAIC Insurance Regulatory Information System.
"§ 58-27.10. Scope.-The provisions of this Article shall apply to all domestic, foreign, and alien insurers who are authorized to transact business in this State.
"§ 58-27.11. Filing requirements.-(a) Each domestic, foreign, and alien insurer that is authorized to transact insurance in this State shall, on or before March 1 of each year, file with the National Association of Insurance Commissioners (NAIC) a copy of its annual statement convention blank, along with such additional filings as prescribed by the Commissioner, for the preceding year. The information filed with the NAIC shall be in the same format and scope as that required by the Commissioner and shall include the signed jurat page and the actuarial certification. Any amendments and addenda to the annual statement filing that are subsequently filed with the Commissioner shall also be filed with the NAIC.
(b) Foreign insurers that are domiciled in a state that has a law or regulation substantially similar to this Article shall be deemed to be in compliance with this section.
"§ 58-27.12. Immunity.-In the absence of actual malice, or gross negligence, members of the NAIC, their duly authorized committees, subcommittees, and task forces, their delegates, NAIC employees, and all others charged with the responsibility of collecting, reviewing, analyzing, and disseminating the information developed from the filings made pursuant to G.S. 58- 27.11 shall be acting as agents of the Commissioner under the authority of this Article and shall not be subject to civil liability for libel, slander, or any other cause of action by virtue of their collection, review, and analysis or dissemination of the data and information collected from the filings required under this Article.
"§ 58-27.13. Revocation of certificate of authority.-The Commissioner may suspend, revoke, or refuse to renew the certificate of authority of any insurer failing to file its annual statement when due or within any extension of time that the Commissioner, for good cause, may have granted."
Sec. 2. This act is effective upon ratification.
In the General Assembly read three times and ratified, this the 3rd day of June, 1985.