§ 58-1-5. Definitions.

296 words·~1 min read·/nc/chapter-58/58-1-5

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

In this Chapter, unless the context clearly requires otherwise:

(1)"Alien company" means a company incorporated or organized under the laws of any jurisdiction outside of the United States.

(1a)"Commercial aircraft" means aircraft used in domestic, flag, supplemental, commuter, or on-demand operations, as defined in Federal Aviation Administration Regulations, 14 C.F.R. § 119.3, as amended.

(2)"Commissioner" means the Commissioner of Insurance of North Carolina or an authorized designee of the Commissioner.

(3)"Company" or "insurance company" or "insurer" includes any corporation, association, partnership, society, order, individual or aggregation of individuals engaging or proposing or attempting to engage as principals in any kind of insurance business, including the exchanging of reciprocal or interinsurance contracts between individuals, partnerships and corporations. "Company" or "insurance company" or "insurer" does not mean the State of North Carolina or any county, city, or other political subdivision of the State of North Carolina.

(4)"Department" means the Department of Insurance of North Carolina.

(5)"Domestic company" means a company incorporated or organized under the laws of this State.

(6)"Foreign company" means a company incorporated or organized under the laws of the United States or of any jurisdiction within the United States other than this State.

(7)"NAIC" means the National Association of Insurance Commissioners.

(8)Repealed by Session Laws 1999-219, s. 5.5.

(9)"Person" means an individual, partnership, firm, association, corporation, joint-stock company, trust, any similar entity, or any combination of the foregoing acting in concert.

(10)The singular form includes the plural, and the masculine form includes the feminine wherever appropriate. (1899, c. 54, s. 1; Rev., s. 4678; C.S., s. 6261; 1945, c. 383; 1971, c. 510, s. 1; 1987, c. 864, s. 34; 1995, c. 193, s. 1; 1999-219, s. 5.5; 2001-334, s. 18.2.)