N.C. Gen. Stat. § 58-8-50

Current through Session Law 2024-56

Section 58-8-50 - Guaranty against assessments prohibited

If any director, officer, or agent of a mutual insurance company, either officially or privately, gives a guarantee to a policyholder of the company against an assessment to which that policyholder would otherwise be liable, the director, officer, or agent shall be punished by a fine not exceeding one thousand dollars ($1,000) for each offense.

N.C. Gen. Stat. § 58-8-50

Amended by 2003 N.C. Sess. Laws 0212, s. 16, eff. 10/1/2003.

1899, c. 54, s. 100; Rev., s. 3496; C.S., s. 6352; 1945, c. 386.