Part 5.
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/nc/chapter-58/5A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Part 5. Mortgage Guaranty Insurance.
§ 58-10-120. Definitions.
As used in this Part:
(1)"Mortgage guaranty insurers report of policyholders position" means the supplementary report required by the Commissioner.
(2)"Policyholders position" means the contingency reserve established under G.S. 58-10-135 and policyholders' surplus. "Minimum policyholders position" is calculated as described in G.S. 58-10-125.
(3)"Policyholders surplus" means an insurer's net worth; the difference between its assets and liabilities, as reported in its annual statement. (2001-223, s. 11; 2005-215, s. 11.)