§ 20-279.33. Self-insurers.

181 words·~1 min read·/nc/chapter-20/20-279-33

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)Any person in whose name more than 25 motor vehicles are registered may qualify as a self-insurer by obtaining a certificate of self-insurance issued by the Commissioner as provided in subsection

(b)of this section. For the purpose of this Article, the State of North Carolina shall be considered a self-insurer.

(b)The Commissioner may, in his discretion, upon the application of such a person, issue a certificate of self-insurance when he is satisfied that such person is possessed and will continue to be possessed of ability to pay judgments obtained against such person. The certificate shall serve as evidence of insurance for the purposes of G.S. 20-7(c1), 20-13.2(e), 20-16.1, 20-19(k), and 20-179.3( l ).

(c)Upon not less than five days' notice and a hearing pursuant to such notice, the Commissioner may upon reasonable grounds cancel a certificate of self-insurance. Failure to pay any judgment within 30 days after such judgment shall have become final shall constitute a reasonable ground for the cancellation of a certificate of self-insurance. (1953, c. 1300, s. 33; 2022-46, s. 15(b).)