reglab/housing_qa huggingface dataset:
NC Gen Stat § 58-58-115 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 58 - Life Insurance and Viatical Settlements.|§ 58-58-115 - Creditors deprived of benefits of life insurance policies except in cases of fraud.

 58-58-115. Creditors deprived of benefits of life insurance policies except in cases of fraud.If a policy of insurance is effected by any person on his own life or on another life in favor of a person other than himself, or, except in cases of transfer with intent to defraud creditors, if a policy of life insurance is assigned or in any way made payable to any such person, the lawful beneficiary or assignee thereof, other than the insured or the person so effecting such insurance or the executor or administrator of such insured or of the person effecting such insurance, shall be entitled to its proceeds and avails against creditors and representatives of the insured and of the person effecting same, whether or not the right to change the beneficiary is reserved or permitted, and whether or not the policy is made payable to the person whose life is insured if the beneficiary or assignee shall predecease such person: Provided, that subject to the statute of limitations, the amount of any premiums for said insurance paid with the intent to defraud creditors, with interest thereon, shall inure to their benefit from the proceeds of the policy; but the company issuing the policy shall be discharged of all liability thereon by payment of its proceeds in accordance with its terms unless, before such payment, the company shall have written notice by or in behalf of the creditor, of a claim to recover for transfer made or premiums paid with intent to defraud creditors, with specifications of the amount claimed. (1931, c. 179, s. 1; 1947, c. 721.)
NC Gen Stat § 58-58-125 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 58 - Life Insurance and Viatical Settlements.|§ 58-58-125 - Minimum premium rates for assessment life insurance companies.

 58-58-125. Minimum premium rates for assessment life insurance companies.No assessment life insurance corporation, organization or association of any kind issuing policies or contracts upon the life of any resident of this State shall hereafter be organized or licensed by the Commissioner unless such corporation, organization or association adopt premium rates based upon the attained age of the assured at the time of issuance of the contract and such rates shall not be less than those fixed by the American Experience Table of Mortality or any other recognized table of mortality approved by the Commissioner. Nothing contained in this section shall be construed to affect burial associations regulated under G.S. 143B-472 through 143B-472.28 or railroad burial associations. (1939, c. 161; 1991, c. 720, ss. 4, 32.)
NC Gen Stat § 58-58-130 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 58 - Life Insurance and Viatical Settlements.|§ 58-58-130 - Distribution of surplus in mutual companies.

 58-58-130. Distribution of surplus in mutual companies.Every life insurance company doing business in this State upon the principle of mutual insurance, or the members of which are entitled to share in the surplus funds thereof, may distribute the surplus annually, or once in two, three, four, or five years, as its directors determine. No payments shall be made to policyholders by way of dividends unless the company possesses admitted assets in the amount of such payments in excess of its capital and/or minimum required surplus and all other liabilities. (1903, c. 536, s. 10; Rev., s. 4776; C.S., s. 6466; 1945, c. 379.)
NC Gen Stat § 58-58-141 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 58 - Life Insurance and Viatical Settlements.|§ 58-58-141 - Portability of group life insurance.

 58-58-141. Portability of group life insurance.(a) Definition. - For purposes of this section, "portability" means the prerogative to continue existing group life insurance coverage, or access alternate group life insurance coverage, that may be provided by a group life insurance policy to an individual insured after the individual's affiliation with the initial group terminates.(b) Applicability. - This section applies to all certificates issued under group policies that are used in this State. This section also applies to a certificate issued under a policy issued and delivered to a trust or to an association outside of this State and covering persons residing in this State.(c) Prohibitions. - The use of health questions, underwriting, or eligibility requirements that pertain to health status is prohibited when an individual insured elects to access a portability option provided by a group life insurance policy. (2007-298, s. 2.6.)
NC Gen Stat § 58-58-146 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 58 - Life Insurance and Viatical Settlements.|§ 58-58-146 - Application for annuities required.

 58-58-146. Application for annuities required.(a) Each individual (nongroup) annuity contract shall be issued only upon application of the annuitant or proposed owner. Any application form, whether paper or electronic, is subject to G.S. 58-3-150, and if taken by an agent, broker, or other producer shall include the certificate of the agent, broker, or other producer that the agent, broker, or other producer has truly and accurately recorded on the application form the information provided by the annuitant or proposed owner. Every annuity contract subject to this section shall contain as part of the contract the original or reproduction of the application required by this section.(b) The application copy required by this section may be either a photo copy of the original completed application, or a paper print of the completed application form, or a document that represents a compilation of information from the application process. Nothing in this subsection prohibits use of electronic application forms provided the format complies with these requirements.  (2007-298, s. 1.2; 2009-382, s. 14.)
NC Gen Stat § 58-58-147 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 58 - Life Insurance and Viatical Settlements.|§ 58-58-147 - Surrender fees on death benefits.

 58-58-147. Surrender fees on death benefits.No authorized insurer shall deliver or issue for delivery in this State any deferred annuity contract that contains a provision that reduces the death benefit of the contract by a surrender fee when death occurs during the surrender period. (2007-298, s. 1.2.)
NC Gen Stat § 58-58-150 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 58 - Life Insurance and Viatical Settlements.|§ 58-58-150 - Employee life insurance defined.

 58-58-150. Employee life insurance defined.Employee life insurance is hereby declared to be that plan of life insurance other than salary savings life insurance under which individual policies are issued to the employees of any employer where such policies are issued on the life of more than one employee at date of issue. Premiums for such policies shall be paid by the employer or the trustee of a fund established by the employer either wholly from the employer's funds, or funds contributed by him, or partly from such funds and partly from funds contributed by the insured employees. (1947, c. 721; 1957, c. 1008.)
NC Gen Stat § 58-58-155 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 58 - Life Insurance and Viatical Settlements.|§ 58-58-155 - Assignment of interest in group policies and annuity contracts.

 58-58-155. Assignment of interest in group policies and annuity contracts.Any individual insured under a group insurance policy or group annuity contract shall have the right, unless expressly prohibited under the terms of the policy or contract of insurance, to assign to any other person his rights and benefits under the policy or contract, including, but not limited to the right to designate the beneficiary or beneficiaries and the right of conversion guaranteed by G.S. 58-58-140, and, subject to the provisions of the policy relating to assignments thereunder, any such assignment, made either before or after April 28, 1969, shall be valid for the purpose of vesting in the assignee all such rights and benefits so assigned. (1969, c. 319.)
NC Gen Stat § 58-58-160 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 58 - Life Insurance and Viatical Settlements.|§ 58-58-160 - Voting power under policies of group life insurance.

 58-58-160. Voting power under policies of group life insurance.In every group policy issued by a domestic life insurance company, the employer shall be deemed to be the policyholder for all purposes within the meaning of Articles 1 through 64 of this Chapter, and, if entitled to vote at meetings of the company, shall be entitled to one vote thereat. (1925, c. 58, s. 3.)
NC Gen Stat § 58-58-165 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 58 - Life Insurance and Viatical Settlements.|§ 58-58-165 - Exemption from execution.

 58-58-165. Exemption from execution.No policy of group insurance, nor the proceeds thereof, when paid to any employee or employees thereunder, shall be liable to attachment, garnishment, or other process, or to be seized, taken, appropriated or applied by any legal or equitable process or operation of law, to pay any debt or liability of such employee, or his beneficiary, or any other person who may have a right thereunder, either before or after payment; but the proceeds thereof, when made payable to the estate of the employee insured, shall constitute a part of the estate of such employee available for the payment of debts. (1925, c. 58, s. 4; 1957, c. 1361.)
NC Gen Stat § 58-58-170 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 58 - Life Insurance and Viatical Settlements.|§ 58-58-170 - Contestability after reinstatement.

 58-58-170. Contestability after reinstatement.A reinstated policy of life insurance or annuity contract may be contested on account of fraud or misrepresentation of facts material to the reinstatement only for the same period following reinstatement and with the same conditions and exceptions as the policy provides with respect to contestability after original issuance. The reinstatement application shall be deemed to be a part of the policy whether or not attached thereto. (1987, c. 752, s. 13.)
NC Gen Stat § 58-58-200 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 58 - Life Insurance and Viatical Settlements.|§ 58-58-200 - Short title.

 58-58-200. Short title.This Part may be cited as the Viatical Settlements Act. (2001-436, s. 3.)
NC Gen Stat § 58-58-215 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 58 - Life Insurance and Viatical Settlements.|§ 58-58-215 - License revocation and denial.

 58-58-215. License revocation and denial.The Commissioner may suspend, revoke, or refuse to issue or renew the license of a provider or broker if the Commissioner finds that:(1) There was any material misrepresentation in the application for the license;(2) The licensee or any officer, partner, member, or key management personnel has been convicted of fraudulent or dishonest practices, is subject to a final administrative action, or is otherwise shown to be untrustworthy or incompetent;(3) The provider demonstrates a pattern of unreasonable payments to viators;(4) The licensee or any officer, partner, member, or key management personnel has been found guilty of, or has pleaded guilty or nolo contendere to, any felony, or to a misdemeanor involving fraud or moral turpitude, regardless of whether a judgment of conviction has been entered by the court;(5) The provider has entered into any viatical settlement contract that has not been approved pursuant to this Part;(6) The provider has failed to honor contractual obligations set out in a viatical settlement contract;(7) The licensee no longer meets the requirements for initial licensure;(8) The provider has assigned, transferred, or pledged a viaticated policy to a person other than a provider licensed in this State, viatical settlement purchaser, an accredited investor, or qualified institutional buyer as defined respectively in Regulation D, Rule 501 or Rule 144A of the Federal Securities Act of 1933, as amended, financing entity, special purpose entity, or related provider trust; or(9) The licensee or any officer, partner, member, or key management personnel has violated any provision of this Part. (2001-436, s. 3.)
NC Gen Stat § 58-58-220 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 58 - Life Insurance and Viatical Settlements.|§ 58-58-220 - Approval of viatical settlement contracts and disclosure statements.

 58-58-220. Approval of viatical settlement contracts and disclosure statements.A person shall not use a contract or provide to a viator a disclosure statement form in this State unless filed with and approved by the Commissioner. The Commissioner shall disapprove a contract form or disclosure statement form if, in the Commissioner's opinion, the contract or provisions contained therein are unreasonable, contrary to the interests of the public, or otherwise misleading or unfair to the viator. The Commissioner may also require the submission of advertising material. (2001-436, s. 3.)
NC Gen Stat § 58-58-225 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 58 - Life Insurance and Viatical Settlements.|§ 58-58-225 - Reporting requirements and privacy.

 58-58-225. Reporting requirements and privacy.(a) Each licensee shall file with the Commissioner on or before June 1 of each year an annual statement containing such information as the Commissioner prescribes by administrative rule.(b) Except as otherwise allowed or required by law, a provider, broker, insurance company, insurance producer, information bureau, rating agency or company, or any other person with actual knowledge of an insured's identity shall not disclose that identity as an insured, or the insured's financial or medical information, to any other person unless the disclosure:(1) Is necessary to effect a viatical settlement between the viator and a provider and the viator and insured have provided prior written consent to the disclosure;(2) Is provided in response to an investigation or examination by the Commissioner or any other governmental officer or agency or pursuant to the requirements of G.S. 58-58-270;(3) Is a term of or condition to the transfer of a policy by one provider to another provider;(4) Is necessary to permit a financing entity, related provider trust, or special purpose entity to finance the purchase of policies by a provider and the viator and insured have provided prior written consent to the disclosure;(5) Is necessary to allow the provider or broker or its authorized representatives to make contacts for the purpose of determining health status; or(6) Is required to purchase stop-loss coverage. (2001-436, s. 3.)
NC Gen Stat § 58-58-230 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 58 - Life Insurance and Viatical Settlements.|§ 58-58-230 - Examinations.

 58-58-230. Examinations.(a) The Commissioner may conduct an examination of a licensee as often as the Commissioner considers appropriate.(b) An examination under this Part shall be conducted in accordance with the Examination Law.(c) In lieu of an examination of any foreign or alien person licensed under this Part, the Commissioner may accept an examination report on the licensee prepared by the appropriate viatical settlement regulator for the licensee's state of domicile or port-of-entry state.(d) When making an examination under this Part, the Commissioner may retain attorneys, appraisers, independent actuaries, independent certified public accountants, or other professionals and specialists as examiners, the reasonable cost of which shall be borne by the licensee that is the subject of the examination. (2001-436, s. 3.)
NC Gen Stat § 58-58-235 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 58 - Life Insurance and Viatical Settlements.|§ 58-58-235 - Record retention requirements.

 58-58-235. Record retention requirements.(a) A person licensed under this Part shall retain copies for five years of all:(1) Proposed, offered, or executed contracts, purchase agreements, underwriting documents, policy forms, and applications from the date of the proposal, offer, or execution of the contract or purchase agreement, whichever is later.(2) Checks, drafts, or other evidence and documentation related to the payment, transfer, deposit, or release of funds from the date of the transaction.(3) Other records and documents related to the requirements of this Part.(b) This section does not relieve a person of the obligation to produce these documents to the Commissioner after the retention period has expired if the person has retained the documents.(c) Records required to be retained by this section must be legible and complete and may be retained in paper, photograph, microprocessor, magnetic, mechanical, or electronic media, or by any process that accurately reproduces or forms a durable medium for the reproduction of a record. (2001-436, s. 3.)
NC Gen Stat § 58-58-240 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 58 - Life Insurance and Viatical Settlements.|§ 58-58-240 - Investigative authority of the Commissioner.

 58-58-240. Investigative authority of the Commissioner.The Commissioner may investigate suspected fraudulent viatical settlement acts and persons engaged in the business of viatical settlements. (2001-436, s. 3.)
NC Gen Stat § 58-58-265 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 58 - Life Insurance and Viatical Settlements.|§ 58-58-265 - Fraudulent viatical settlement acts, interference, and participation of convicted felons prohibited.

 58-58-265. Fraudulent viatical settlement acts, interference, and participation of convicted felons prohibited.(a) A person who commits a fraudulent viatical settlement act is guilty of a Class H felony.(b) A person shall not knowingly or intentionally interfere with the enforcement of the provisions of this Part or investigations of suspected or actual violations of this Part.(c) A person in the business of viatical settlements shall not knowingly or intentionally permit any person convicted of a felony involving dishonesty or breach of trust to participate in the business of viatical settlements. (2001-436, s. 3.)
NC Gen Stat § 58-58-267 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 58 - Life Insurance and Viatical Settlements.|§ 58-58-267 - Fraud warning required.

 58-58-267. Fraud warning required.(a) Viatical settlement contracts and purchase agreement forms and applications for viatical settlements, regardless of the form of transmission, shall contain the following statement or a substantially similar statement:    "Any person who knowingly presents false information in an application for insurance or viatical settlement contract or a viatical settlement purchase agreement is guilty of a felony and may be subject to fines and confinement in prison."     (b) The lack of a statement as required in subsection (a) of this section does not constitute a defense in any prosecution for a fraudulent viatical settlement act. (2001-436, s. 3.)
NC Gen Stat § 58-58-268 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 58 - Life Insurance and Viatical Settlements.|§ 58-58-268 - Viatical settlement antifraud initiatives.

 58-58-268. Viatical settlement antifraud initiatives.(a) Viatical settlement providers and viatical settlement brokers shall have in place antifraud initiatives reasonably calculated to detect, prosecute, and prevent fraudulent viatical settlement acts. At the discretion of the Commissioner, the Commissioner may order, or a licensee may request and the Commissioner may grant, such modifications of the following required initiatives as necessary to ensure an effective antifraud program. The modifications may be more or less restrictive than the required initiatives so long as the modifications may reasonably be expected to accomplish the purpose of this section.(b) Antifraud initiatives shall include:(1) Fraud investigators, who may be viatical settlement provider employees or viatical settlement broker employees or independent contractors; and(2) An antifraud plan, which shall be submitted to the Commissioner. The antifraud plan shall include, but not be limited to:a. A description of the procedures for detecting and investigating possible fraudulent viatical settlement acts and procedures for resolving material inconsistencies between medical records and insurance applications;b. A description of the procedures for reporting possible fraudulent viatical settlement acts to the Commissioner;c. A description of the plan for antifraud education and training of underwriters and other personnel; andd. A description or chart outlining the organizational arrangement of the antifraud personnel who are responsible for the investigation and reporting of possible fraudulent viatical settlement acts and investigating unresolved material inconsistencies between medical records and insurance applications.(c) Antifraud plans submitted to the Commissioner are privileged and confidential, are not public records, and are not subject to discovery or subpoena in a civil or criminal action. (2001-436, s. 3.)
NC Gen Stat § 58-58-270 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 58 - Life Insurance and Viatical Settlements.|§ 58-58-270 - Report to Commissioner.

 58-58-270. Report to Commissioner.Whenever any person licensed under this Part knows or has reasonable cause to believe that any other person has violated any provision of this Part, it is the duty of that person, upon acquiring the knowledge, to notify the Commissioner and provide the Commissioner with a complete statement of all of the relevant facts and circumstances. The report is a privileged communication and when made without actual malice does not subject the person making the report to any liability whatsoever. The Commissioner may suspend, revoke, or refuse to renew the license of any person who willfully fails to comply with this section. (2001-436, s. 3.)
NC Gen Stat § 58-58-275 (2021)
2021 North Carolina General Statutes|Chapter 58 - Insurance|Article 58 - Life Insurance and Viatical Settlements.|§ 58-58-275 - Reporting and investigation of suspected viatical settlement fraudulent acts; immunity from liability.

 58-58-275. Reporting and investigation of suspected viatical settlement fraudulent acts; immunity from liability.(a) As used in this section, "Commissioner" includes an employee, agent, or designee of the Commissioner. A person, or an employee or agent of that person, acting without actual malice, is not subject to civil liability for libel, slander, or any other cause of action by virtue of furnishing to the Commissioner, under the requirements of law or at the direction of the Commissioner, reports or other information relating to any known or suspected viatical settlement fraudulent act.(b) The Commissioner, acting without actual malice, is not subject to civil liability for libel or slander by virtue of an investigation of any known or suspected viatical settlement fraudulent act; or by virtue of the publication or dissemination of any official report related to any such investigation, which report is published or disseminated in the absence of fraud, bad faith, or actual malice on the part of the Commissioner.(c) During the course of an investigation of a known or suspected viatical settlement fraudulent act, the Commissioner may request any person to furnish copies of any information relative to the known or suspected viatical settlement fraudulent act. The person shall release the information requested and cooperate with the Commissioner under this section. (2001-436, s. 3.)