Part 5. Mortgage Guaranty Insurance.

§ 58‑10‑120.  Definitions.

As used in this Part:

(1) "Mortgage guaranty insurers report of policyholders position" means the supplementary report required by the Commissioner.

(2) "Policyholders position" means the contingency reserve established under G.S. 58‑10‑135 and policyholders' surplus. "Minimum policyholders position" is calculated as described in G.S. 58‑10‑125.

(3) "Policyholders surplus" means an insurer's net worth; the difference between its assets and liabilities, as reported in its annual statement. (2001‑223, s. 11; 2005‑215, s. 11.)