Part 4.
139 words·~1 min read·
/nc/chapter-58/4-5A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Part 4. Miscellaneous Provisions.
§ 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 Article 13E of Chapter 90 of the General Statutes or railroad burial associations. (1939, c. 161; 1991, c. 720, ss. 4, 32; 2025-76, s. 2.2(c).)