reglab/housing_qa huggingface dataset:
NC Gen Stat § 58-6-7 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 6 - License Fees and Taxes.|§ 58-6-7 - Licenses; perpetual licensing; annual license continuation fees for insurance companies.

 58-6-7. Licenses; perpetual licensing; annual license continuation fees for insurance companies.(a) In order to do business in this State, an insurance company shall apply for and obtain a license from the Commissioner. The license shall be perpetual and shall continue in full force and effect, subject to timely payment of the annual license continuation fee in accordance with this Chapter and subject to any other applicable provision of the insurance laws of this State. The insurance company shall pay a fee for each year the license is in effect, as follows:For each domestic farmer's mutual assessment fire insurance company............................................................................................................ $  25.00  For each fraternal order...............................................................................   500.00  For each of all other insurance companies, except domestic mutual burial associations......................................................................................... 2,500.00  The fees levied in this subsection are in addition to those specified in G.S. 58-6-5.(b) Repealed by Session Laws 2005-424, s. 1.2, effective January 1, 2006, and applicable to applications filed, licenses issued, and licenses continued on or after that date.(c) Upon payment of the fee specified above and the fees and taxes elsewhere specified, each insurance company, exchange, bureau, or agency, shall be entitled to do the types of business specified in Chapter 58, of the General Statutes of North Carolina as amended, to the extent authorized therein. All fees and charges collected by the Commissioner under this Chapter are nonrefundable.(d) Any rating bureau established by action of the General Assembly of North Carolina shall be exempt from the fees in this section.  (1945, c. 752, s. 2; 1947, c. 501, s. 8; 1955, c. 179, s. 5; 1989 (Reg. Sess., 1990), c. 1069, s. 4; 1993, c. 495, s. 4; 1993 (Reg. Sess., 1994), c. 745, s. 12; 1995, c. 193, s. 65; c. 360, s. 1(c); c. 507, s. 11A(c); 1999-435, s. 2; 2003-212, s. 26(c); 2005-424, s. 1.2; 2009-451, s. 21.11(b); 2016-5, s. 1.1(b).)
NC Gen Stat § 58-6-15 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 6 - License Fees and Taxes.|§ 58-6-15 - Annual license continuation fee definition; requirements.

 58-6-15. Annual license continuation fee definition; requirements.For purposes of this Chapter only, "annual license continuation fee" means the fee specified in G.S. 58-6-7 submitted to the Commissioner for each year the license is in effect after the company's year of initial licensing. The annual license continuation fee must be submitted annually on or before the first day of March for as long as the license is to remain in effect. If the Commissioner is satisfied that the company has met all requirements of law and appears to be financially solvent, the Commissioner shall not revoke or suspend the license of the company, and the company shall be authorized to do business in this State, subject to all other applicable provisions of the insurance laws of this State. Nothing contained in this section shall be interpreted as applying to licenses issued to individual representatives of insurance companies. (1899, c. 54, s. 78; Rev., s. 4718; C.S., s. 6321; 1955, c. 179, s. 1; 1987, c. 629, s. 16; 1989 (Reg. Sess., 1990), c. 1069, s. 3; 1995, c. 507, s. 11A(c); 2003-212, s. 26(d); 2005-215, s. 5.)
NC Gen Stat § 58-6-20 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 6 - License Fees and Taxes.|§ 58-6-20 - Policyholders to furnish information.

 58-6-20. Policyholders to furnish information.Every corporation, firm, or individual doing business in the State shall, upon request of the Commissioner, furnish the Commissioner any information the Commissioner considers necessary to enable the Commissioner to enforce the payment of a tax levied in this Chapter. (1899, c. 54, s. 79; 1901, c. 391, s. 7; 1903, c. 438, s. 8; Rev., s. 4720; C.S., s. 6323; 1987, c. 864, s. 38; 1991, c. 720, s. 4; 1995 (Reg. Sess., 1996), c. 747, s. 11.)
NC Gen Stat § 58-7-1 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 7 - General Domestic Companies.|§ 58-7-1 - Application of this Chapter and general laws.

 58-7-1. Application of this Chapter and general laws.The general provisions of law relative to the powers, duties, and liabilities of corporations apply to all incorporated domestic insurance companies where pertinent and not in conflict with other provisions of law relative to such companies or with their charters. All insurance companies of this State shall be governed by this Chapter, notwithstanding anything in their special charters to the contrary, provided notice of the acceptance of this Chapter is filed with the Commissioner. (1899, c. 54, s. 19; Rev., s. 4721; C.S., s. 6324; 1991, c. 720, s. 4; 2006-105, s. 1.2.)
NC Gen Stat § 58-7-5 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 7 - General Domestic Companies.|§ 58-7-5 - Extension of existing charters.

 58-7-5. Extension of existing charters.Domestic insurance companies incorporated by special acts, whose charters are subject to limitation of time, shall, after the limitation expires, and upon filing statement and paying the taxes and fees required for an amendment of the charter, continue to be bodies corporate, subject to all general laws applicable to such companies. (1899, c. 54, s. 20; Rev., s. 4722; C.S., s. 6325.)
NC Gen Stat § 58-7-10 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 7 - General Domestic Companies.|§ 58-7-10 - Certificate required before issuing policies.

 58-7-10. Certificate required before issuing policies.No domestic insurance company may issue policies until upon examination of the Commissioner, his deputy or examiner, it is found to have complied with the laws of the State, and until it has obtained from the Commissioner a certificate setting forth that fact and authorizing it to issue policies. The issuing of policies in violation of this section renders the company liable to the forfeiture prescribed by law, but such policies are binding upon the company. (1899, c. 54, ss. 21, 99; 1903, c. 438, s. 10; Rev., s. 4723; C.S., s. 6326; 1991, c. 720, s. 4.)
NC Gen Stat § 58-7-33 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 7 - General Domestic Companies.|§ 58-7-33 - Minimum policyholders' surplus to assume property or casualty reinsurance.

 58-7-33. Minimum policyholders' surplus to assume property or casualty reinsurance.(a) Notwithstanding any other provision of law, no domestic property or casualty insurer with less than ten million dollars ($10,000,000) in policyholders' surplus may, without the Commissioner's prior written approval, assume reinsurance on any risk that it is otherwise permitted to assume except where the reinsurance is:(1) Required by applicable law or regulation; or(2) Assumed under pooling arrangement among members of the same holding company system.(b) This section applies to reinsurance contracts entered into or renewed on or after July 13, 1991.(c) This section does not invalidate any reinsurance contract that was entered into before July 13, 1991, as between the parties to the contract. (1991, c. 681, s. 26.)
NC Gen Stat § 58-7-40 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 7 - General Domestic Companies.|§ 58-7-40 - First meeting; organization; license.

 58-7-40. First meeting; organization; license.The first meeting for the purpose of organization under such charter shall be called by a notice signed by one or more of the subscribers to the certificate of incorporation, stating the time, place, and purpose of the meeting; and at least seven days before the appointed time a copy of this notice shall be given to each subscriber, left at his usual place of business or residence, or duly mailed to his post-office address, unless the signers waive notice in writing. Whoever gives the notice must make affidavit thereof, which affidavit shall include a copy of the notice and be entered upon the records of the corporation. At the first meeting, or any adjournment thereof, an organization shall be effected by the choice of a temporary clerk, who shall be sworn; by the adoption of bylaws; and by the election of directors and such other officers as the bylaws require; but at this meeting no person may be elected director who has not signed the certificate of incorporation. The temporary clerk shall record the proceedings until the election and qualification of the secretary. The directors so chosen shall elect a president, secretary, and other officers which under the bylaws they are so authorized to choose. The president, secretary, and a majority of the directors shall forthwith make, sign, and swear to a certificate setting forth a copy of the certificate of incorporation, with the names of the subscribers thereto, the date of the first meeting and of any adjournments thereof, and shall submit such certificate and the records of the corporation to the Commissioner of Insurance, who shall examine the same, and who may require such other evidence as he deems necessary. If upon his examination the Commissioner of Insurance approves of the bylaws and finds that the requirements of the law have been complied with, he shall issue a license to the company to do business in the State, as is provided for in this Chapter. (1899, c. 54, s. 25; 1903, c. 438, ss. 2, 3; Rev., s. 4728; C.S., s. 6329.)
NC Gen Stat § 58-7-45 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 7 - General Domestic Companies.|§ 58-7-45 - Bylaws; classification and election of directors; amendments.

 58-7-45. Bylaws; classification and election of directors; amendments.(a) A domestic company may adopt bylaws for the conduct of its business that are not repugnant to law or its articles of incorporation and therein provide for the division of its board of directors into two, three, or four classes, and the election thereof at its annual meetings so that the members of one class only shall retire and their successors be chosen each year. Vacancies in any such class may be filled by election by the board for the unexpired term.(b) Any change in the bylaws of a domestic company shall be promptly filed with the Commissioner. (1899, c. 54, s. 22; Rev., s. 4724; C.S., s. 6330; 1993, c. 504, s. 5.)
NC Gen Stat § 58-7-46 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 7 - General Domestic Companies.|§ 58-7-46 - Notification to Commissioner for president or chief executive officer changes.

 58-7-46. Notification to Commissioner for president or chief executive officer changes.All domestic insurers organized under the laws of this Chapter shall provide the Commissioner written notice of any change that occurs in the position of president or chief executive officer of the insurer no later than 30 days after the change. Notice shall include the name of the insurer, the name of the person previously holding the position of president or chief executive officer, the name of the person currently holding the position, and the date the position change took place. (2005-215, s. 6.)
NC Gen Stat § 58-7-60 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 7 - General Domestic Companies.|§ 58-7-60 - Approval as a domestic insurer.

 58-7-60. Approval as a domestic insurer.Any insurer that is organized under the laws of any other state and is licensed to transact the business of insurance in this State may become a domestic insurer by (i) complying with laws and regulations regarding the organization and licensing of a domestic insurer of the same type; (ii) designating its principal place of business at a place in this State; and (iii) obtaining the approval of the Commissioner. Such domestic insurer shall be entitled to like certificates of authority to transact business in this State and shall be subject to the authority and jurisdiction of this State. Articles of Incorporation of such domestic insurer may be amended to provide that the corporation is a continuation of the corporate existence of the original foreign corporation through adoption of this State as its corporate domicile and that the original date of incorporation in its original domicilliary state is the date of incorporation of such domestic insurer. (1987, c. 752, s. 10.)
NC Gen Stat § 58-7-65 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 7 - General Domestic Companies.|§ 58-7-65 - Conversion to foreign insurer.

 58-7-65. Conversion to foreign insurer.Any domestic insurer may, upon the approval of the Commissioner, transfer its domicile to any other state in which it is licensed to transact the business of insurance. Upon such a transfer such insurer shall cease to be a domestic insurer and shall be licensed in this State, if qualified, as a foreign insurer. The Commissioner shall approve any such proposed transfer unless he determines that such transfer is not in the interest of the policyholders of this State. (1987, c. 752, s. 10.)
NC Gen Stat § 58-7-70 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 7 - General Domestic Companies.|§ 58-7-70 - Effects of redomestication.

 58-7-70. Effects of redomestication.The license, agent appointments and licenses, rates, and other items that the Commissioner authorizes or grants, in his discretion, that are in existence at the time any insurer licensed by the Commissioner transfers its corporate domicile to this or any other state by merger, consolidation, or any other lawful method, shall continue in full force and effect upon the transfer if the insurer remains duly licensed by the Commissioner. All outstanding policies of any transferring insurer shall remain in full force and effect and need not be endorsed as to any new name of the insurer or its new location unless so ordered by the Commissioner. Every transferring insurer shall file new policy forms with the Commissioner on or before the effective date of the transfer, but may use existing policy forms with appropriate endorsements if allowed by, and under such conditions as approved by, the Commissioner: Provided, however, every such transferring insurer shall (i) notify the Commissioner of the details of the proposed transfer and (ii) promptly file any resulting amendments to corporate documents filed or required to be filed with the Commissioner. (1987, c. 752, s. 10; 1999-132, s. 9.1; 2000-140, s. 11; 2001-223, s. 4.2.)
NC Gen Stat § 58-7-73 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 7 - General Domestic Companies.|§ 58-7-73 - Dissolutions of insurers.

 58-7-73. Dissolutions of insurers.Upon reaching a determination of intent to dissolve and before filing articles of dissolution with the Office of the Secretary of State, a domestic insurer organized under this Chapter shall file a plan of dissolution for approval by the Commissioner. At such time the Commissioner may restrict the license of the insurer. In order to proceed with a dissolution, the plan must be approved by the Commissioner. (2002-187, s. 2.4.)
NC Gen Stat § 58-7-80 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 7 - General Domestic Companies.|§ 58-7-80 - Capital stock fully paid in cash.

 58-7-80. Capital stock fully paid in cash. The capital stock shall be paid in cash within 12 months from the date of the charter or certificate of organization, and no certificate of full shares and no policies may be issued until the whole capital is paid in. A majority of the directors shall certify on oath that the money has been paid by the stockholders for their respective shares and is held as the capital of the company invested or to be invested as required by G.S. 58-7-75. (1899, c. 54, s. 27; Rev., s. 4730; C.S., s. 6333; 1945, c. 386.)
NC Gen Stat § 58-7-105 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 7 - General Domestic Companies.|§ 58-7-105 - Authority to increase or reduce capital stock.

 58-7-105. Authority to increase or reduce capital stock.The Commissioner shall, upon application, examine the proceedings of domestic companies to increase or reduce their capital stock, and when found conformable to law shall issue certificates of authority to such companies to transact business upon such increased or reduced capital: Provided, that in no event shall the said capital stock be reduced to an amount less than that required upon organization of such company in G.S. 58-7-75. He shall not allow stockholders' obligations of any description as part of the assets or capital of any stock insurance company unless the same are secured by competent collateral. (1899, c. 54, s. 15; Rev., s. 4732; C.S., s. 6335; 1945, c. 386; 1991, c. 720, s. 4.)
NC Gen Stat § 58-7-110 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 7 - General Domestic Companies.|§ 58-7-110 - Assessment of shares; revocation of license.

 58-7-110. Assessment of shares; revocation of license.When the net assets of a company organized under this Article do not amount to more than the amount required in G.S. 58-7-75 for its original capital, it may make good its capital to the original amount by assessment of its stock. Shares on which such an assessment is not paid within 60 days after demand shall be forfeitable and may be canceled by vote of the directors and new shares issued to make up the deficiency. If such company does not, within three months after notice from the Commissioner to that effect, make good its capital or reduce the same, as allowed by this Article, its authority to transact new business of insurance shall be revoked by the Commissioner. (1899, c. 54, s. 28; 1903, c. 438, s. 4; Rev., s. 4733; C.S., s. 6336; 1945, c. 386; 1991, c. 720, s. 4.)
NC Gen Stat § 58-7-115 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 7 - General Domestic Companies.|§ 58-7-115 - Increase of capital stock.

 58-7-115. Increase of capital stock.Any company organized under the provisions of Articles 1 through 64 of this Chapter may issue pro rata to its stockholders certificates of any portion of its surplus which shall be considered an increase of its capital to the amount of such certificates. As used in this section, "surplus" means earned surplus; provided, however, issuance of certificates out of paid-in and contributed surplus will be permitted on a case-by-case basis, with the prior approval of the Commissioner. The issuance of those certificates shall not lower the total surplus of the insurer to an amount less than that required to be maintained by G.S. 58-7-75. The company may, at a meeting called for the purpose, vote to increase the amount and number of shares of its capital stock, and to issue certificates therefor when paid for in full. In whichever method the increase is made, the company shall, within 30 days after the issue of such certificates, submit to the Commissioner a certificate setting forth the amount of the increase and the facts of the transaction, signed and sworn to by its president and secretary and a majority of its directors. If the Commissioner finds that the facts conform to the law, he shall endorse his approval thereof; and upon filing such certificate so endorsed with the Secretary of State, and the payment of a fee of five dollars ($5.00) for filing the same, the company may transact business upon the capital as increased, and the Commissioner shall issue his certificate to that effect. (1899, c. 54, s. 29; Rev., s. 4734; C.S., s. 6337; 1945, c. 386; 1991, c. 720, s. 4; 1993, c. 452, s. 6.)
NC Gen Stat § 58-7-120 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 7 - General Domestic Companies.|§ 58-7-120 - Reduction of capital stock.

 58-7-120. Reduction of capital stock.When the capital stock of a company organized under this Article is impaired, the company may, upon a vote of the majority of the stock represented at a meeting legally called for that purpose, reduce its capital stock and the number of shares thereof to an amount not less than the minimum sum required by law, but no part of its assets and property shall be distributed to its stockholders. Within 10 days after such meeting the company must submit to the Commissioner a certificate setting forth the proceedings thereof and the amount of the reduction and the assets and liabilities of the company, signed and sworn to by its president, secretary, and a majority of its directors. The Commissioner shall examine the facts in the case, and if they conform to law, and in his judgment the proposed reduction may be made without prejudice to the public, he shall endorse his approval upon the certificate. Upon filing the certificate so endorsed with the Secretary of State and paying a filing fee of five dollars ($5.00), the company may transact business upon the basis of the reduced capital as though it were original capital, and its charter shall be deemed to be amended to conform thereto, and the Commissioner shall issue his certificate to that effect. The company may, by a majority vote of its directors, after the reduction, require the return of the original certificates of stock held by each stockholder in exchange for new certificates it may issue in lieu thereof for such number of shares as each stockholder is entitled to in the proportion that the reduced capital bears to the original capital. (1899, c. 54, s. 30; Rev., s. 4735; C.S., s. 6338; 1991, c. 720, s. 4.)
NC Gen Stat § 58-7-125 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 7 - General Domestic Companies.|§ 58-7-125 - Dividends not payable when capital stock impaired; liability of stockholders for unlawful dividends.

 58-7-125. Dividends not payable when capital stock impaired; liability of stockholders for unlawful dividends. No dividend shall be paid by any company incorporated in this State when its capital stock is impaired, or when such payment would have the effect of impairing its capital stock; and any dividend so paid subjects the stockholders receiving it to a joint and several liability to the creditors of said company to the extent of the dividend so paid. (1899, c. 54, s. 31; 1903, c. 536, s. 3; Rev., s. 4736; C.S., s. 6339; 1945, c. 386.)