North Carolina General Statutes 58-15-110. Deposit in lieu of bond
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Terms Used In North Carolina General Statutes 58-15-110
- Attorney: means the person designated and authorized by subscribers as the attorney-in-fact having authority to obligate them on reciprocal and other insurance contracts. See North Carolina General Statutes 58-15-5
Instead of filing the bond required by N.C. Gen. Stat. § 58-15-105, the attorney may maintain on deposit with the Commissioner an equal amount in cash or in value of securities of the kind specified in N.C. Gen. Stat. § 58-5-20 and subject to the same conditions as the bond. (1989, c. 425, s. 1.)