§ 58-45-1 Declarations and purpose of Article
§ 58-45-5 Definition of terms
§ 58-45-6 Persons who can be insured by the Association
§ 58-45-10 North Carolina Insurance Underwriting Association created
§ 58-45-15 Powers and duties of Association
§ 58-45-20 Temporary directors of Association
§ 58-45-25 Each member of Association to participate in nonrecoupable assessments
§ 58-45-30 Directors to submit plan of operation to Commissioner; review and approval; amendments; appeal from Commissioner to superior court
§ 58-45-35 Persons eligible to apply to Association for coverage; contents of application
§ 58-45-36 Temporary contracts of insurance
§ 58-45-40 Association members may cede insurance to Association
§ 58-45-41 Coverage limits
§ 58-45-45 Rates, rating plans, rating rules, and forms applicable
§ 58-45-46 Unearned premium, loss, and loss expense reserves
§ 58-45-47 Deficit event
§ 58-45-50 Appeal from acts of Association to Commissioner; appeal from Commissioner to superior court
§ 58-45-55 Reports of inspection made available
§ 58-45-60 Association and Commissioner immune from liability
§ 58-45-65 Association to file annual report with Commissioner
§ 58-45-65.1 Association to be audited
§ 58-45-70 Commissioner may examine affairs of Association
§ 58-45-71 Report of member companies to Commissioner
§ 58-45-75 Commissioner authorized to promulgate reasonable rules and regulations
§ 58-45-80 Premium taxes to be paid through Association
§ 58-45-85 Assessment; inability to pay
§ 58-45-90 Open meetings
§ 58-45-95 Information availability
§ 58-45-96 Succession and dissolution

Terms Used In North Carolina General Statutes > Chapter 58 > Article 45 - Essential Property Insurance for Beach Area Property

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Association: The North Carolina Insurance Underwriting Association established under this Article. See North Carolina General Statutes 58-45-5
  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Beach area: All of that area of the State of North Carolina south and east of the inland waterway from the South Carolina line to Fort Macon (Beaufort Inlet). See North Carolina General Statutes 58-45-5
  • Catastrophe recovery charge: Any charge collected by member insurers from policyholders statewide, including any charge collected by the Association and Fair Plan from their policyholders, upon issuance or renewal of residential and commercial property insurance policies, other than National Flood Insurance policies, after a deficit event has occurred as provided in N. See North Carolina General Statutes 58-45-5
  • Coastal area: All of that area of the State of North Carolina comprising the following counties: Beaufort, Brunswick, Camden, Carteret, Chowan, Craven, Currituck, Dare, Hyde, Jones, New Hanover, Onslow, Pamlico, Pasquotank, Pender, Perquimans, Tyrrell, and Washington. See North Carolina General Statutes 58-45-5
  • Coastal Property Insurance Pool: The name of which was formerly known as "the Beach Plan" and which is governed by the North Carolina Insurance Underwriting Association. See North Carolina General Statutes 58-45-5
  • Crime insurance: Insurance against losses resulting from robbery, burglary, larceny, and similar crimes, as more specifically defined and limited in the various crime insurance policies, or their successor forms of coverage, approved by the Commissioner and issued by the Association. See North Carolina General Statutes 58-45-5
  • Directors: The Board of Directors of the Association. See North Carolina General Statutes 58-45-5
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Essential property insurance: Insurance against direct loss to property as defined in the standard statutory fire policy and extended coverage, vandalism and malicious mischief endorsements thereon, or their successor forms of coverage, as approved by the Commissioner. See North Carolina General Statutes 58-45-5
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • 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
  • in writing: may be construed to include printing, engraving, lithographing, and any other mode of representing words and letters: Provided, that in all cases where a written signature is required by law, the same shall be in a proper handwriting, or in a proper mark. See North Carolina General Statutes 12-3
  • Insurable property: Real property at fixed locations in the beach and coastal area, including travel trailers when tied down at a fixed location, or the tangible personal property located therein, but shall not include insurance on motor vehicles. See North Carolina General Statutes 58-45-5
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Named storm: A weather-related event involving wind that has been assigned a formal name by the National Hurricane Center, National Weather Service, World Meteorological Association, or any other generally recognized scientific or meteorological association that provides formal names for public use and reference. See North Carolina General Statutes 58-45-5
  • Net direct premiums: Gross direct premiums (excluding reinsurance assumed and ceded) written on property in this State for essential property insurance, farmowners insurance, homeowners insurance, and the property portion of commercial multiple peril insurance policies as computed by the Commissioner, less: