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Code · North Carolina · Chapter 58 — Insurance

§ 58-10-145. Monoline requirement for mortgage guaranty insurers.

62 words·~1 min read·/nc/chapter-58/58-10-145

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§ 58-10-145. Monoline requirement for mortgage guaranty insurers.
A mortgage guaranty insurance company that transacts any kind of insurance other than mortgage guaranty insurance is not eligible to transact business in this State. Provided, however, that a mortgage guaranty insurance company may, until December 31, 2012, assume reinsurance for "credit insurance," as defined in G.S. 58-7-15(17). (2007-127, s. 7; 2008-124, s. 2.2.)
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