North Carolina General Statutes 58-10-650. Other laws applicable to captive insurance companies
In addition to the statutes and laws previously referred to in this Part, the following provisions of this Chapter are applicable to all captive insurance companies subject to this Part:
(1) N.C. Gen. Stat. § 58-2-45. – Orders of Commissioner; when writing required.
Terms Used In North Carolina General Statutes 58-10-650
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Embezzlement: In most states, embezzlement is defined as theft/larceny of assets (money or property) by a person in a position of trust or responsibility over those assets. Embezzlement typically occurs in the employment and corporate settings. Source: OCC
- following: when used by way of reference to any section of a statute, shall be construed to mean the section next preceding or next following that in which such reference is made; unless when some other section is expressly designated in such reference. See North Carolina General Statutes 12-3
- Fraud: Intentional deception resulting in injury to another.
(2) N.C. Gen. Stat. § 58-2-160. – Reporting and investigation of insurance and reinsurance fraud and the financial condition of licensees; immunity from liability.
(3) N.C. Gen. Stat. § 58-2-162. – Embezzlement by insurance producers, or administrators.
(4) N.C. Gen. Stat. § 58-2-185. – Record of business kept by companies and insurance producers; Commissioner may inspect.
(5) N.C. Gen. Stat. § 58-2-190. – Commissioner may require special reports.
(6) N.C. Gen. Stat. § 58-2-195. – Commissioner may require records, reports, etc., for agencies, insurance producers, and others.
(7) N.C. Gen. Stat. § 58-2-200. – Books and papers required to be exhibited.
(8) N.C. Gen. Stat. § 58-5-1. – Deposits; use of master trust.
(9) N.C. Gen. Stat. § 58-7-50. – Maintenance and removal of records and assets.
(10) N.C. Gen. Stat. § 58-7-55. – Exceptions to requirements of N.C. Gen. Stat. § 58-7-50. (2013-116, s. 1; 2022-46, s. 14(s).)