§ 58-28-12. Transacting insurance business in this State.
§ 58‑28‑12. Transacting insurance business in this State.
Definitions. As used in thissection, G.S. 58‑28‑13, and G.S. 58‑28‑14:
(1) "Admittedinsurer" means an insurer that is licensed to write insurance in thisState.
(2) "Kind ofinsurance" means one of the types of insurance specified in G.S. 58‑7‑15.
(3) "Nonadmittedinsurer" means an insurer that is not licensed to write insurance in thisState.
(4) "Transactinginsurance business" or "transact insurance business" means:
a. The making of orproposing to make, as an insurer, an insurance contract.
b. The making of orproposing to make, as guarantor or surety, any contract of guaranty orsuretyship as a vocation and not merely incidental to any other legitimatebusiness or activity of the guarantor or surety.
c. The solicitation,taking, or receiving of an application for insurance.
d. The receiving orcollection of any premium, commission, membership fees, assessments, dues, orother consideration for a contract of insurance or any part of the contract ofinsurance.
e. The issuance ordelivery in this State of a contract of insurance to a resident of this Stateor to a person authorized to do business in this State.
f. The solicitation,negotiation, procurement, effectuation, or renewal of a contract of insurance.
g. The dissemination ofinformation as to coverage or rates; forwarding of an application; delivery ofa contract of insurance; inspection of a risk; the fixing of rates; theinvestigation or adjustment of a claim or loss; the transaction of mattersafter effectuation of a contract of insurance and arising out of the contract;or any other manner of representing or assisting a person or insurer intransacting insurance business with respect to properties, risks, or exposureslocated or to be performed in this State.
h. The transaction ofany kind of insurance business specifically recognized as transacting aninsurance business within the meaning of this Chapter.
i. The offering ofinsurance or the transacting of insurance business.
j. The offering of anagreement or contract which purports to alter, amend, or void coverage of aninsurance contract.
k. The transaction ofany matters before or after the execution of contracts of insurance incontemplation of or arising out of the execution.
l. The maintaining ofany agency or office in this State where any acts in furtherance of aninsurance business are transacted, including the execution of contracts ofinsurance with citizens of this State or any other state.
m. The maintaining offiles or records of contracts of insurance in this State. (2008‑124, s. 3.4.)