North Carolina General Statutes 75-18. Lender may require nondiscriminatory approval of insurer
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Terms Used In North Carolina General Statutes 75-18
- Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
Although the lender and other persons enumerated in N.C. Gen. Stat. § 75-17 may not specify or designate as a condition precedent a particular? insurance company or agent, those persons, firms, or corporations engaged in lending money may approve the insurer selected by the borrower on a reasonable, nondiscriminatory basis, related to the solvency of the company and the type and provisions of policy coverage. (1969, c. 1032, s. 2.)