§ 95-111.12. Liability insurance.
§95‑111.12. Liability insurance.
(a) No owner shalloperate a device subject to the provisions of this Article, unless at the time,there is in existence a contract of insurance providing coverage of not lessthan one million dollars ($1,000,000) per occurrence against liability forinjury to persons or property arising out of the operation or use of suchdevice or there is in existence a contract of insurance providing coverage ofnot less than five hundred thousand dollars ($500,000) per occurrence againstliability for injury to persons or property arising out of the operation or useof the amusement devices if the annual gross volume of the devices does notexceed two hundred seventy‑five thousand dollars ($275,000); providedwaterslides shall not be required to be insured as herein provided for anamount in excess of one hundred thousand dollars ($100,000) per occurrence. Theinsurance contract to be provided must be by any insurer or surety that isacceptable to the North Carolina Insurance Commissioner and authorized totransact business in this State; provided, however, that insurance forwaterslides may be purchased under Article 21 of Chapter 58 of the GeneralStatutes or under G.S. 58‑28‑5(b).
(b) No certificate ofoperation shall be issued by the Commissioner until such time as the owner orhis authorized agent provides proof of the required contract of insurance.
(c) The Commissionershall have the right to request from the owner of a device regulated by thisArticle, or his authorized agent, proof of the required contract of insurance,and upon failure of the owner or his authorized agent to provide such proof,the Commissioner shall have the right to prevent the commencement of or to stopthe operation of the device until such time as proof is provided.
(d) Operators ofwaterslides, as defined in G.S. 95‑111.3(h), shall notify theCommissioner of all incidences of personal injury involving the waterslides, asrequired by G.S. 95‑111.10(a). (1985 (Reg. Sess., 1986), c.990, s. 2; 1987, c. 635, s. 1; c. 864, ss. 90(b), 91(a); 1989, c. 232; 1989(Reg. Sess., 1990), c. 914; 1995, c. 517, s. 34.)