§ 58-40-50. Statistical organizations.

421 words·~2 min read·/nc/chapter-58/58-40-50

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

(a)No statistical organization shall conduct its operations in this State, and no insurer shall utilize the service of such organization for any purpose enumerated in G.S. 58-40-5 unless the organization has obtained a license from the Commissioner.

(b)No statistical organization shall refuse to supply any services for which it is licensed in this State to any insurer admitted to do business in this State and offering to pay the fair and usual compensation for the services.

(c)A statistical organization applying for a license shall include with its application:

(1)A copy of its constitution, charter, articles of organization, agreement, association, or incorporation, and a copy of its bylaws, plan of operation, and any other rules or regulations governing the conduct of its business, all duly certified by the custodian of the originals thereof;

(2)A list of its members and subscribers;

(3)The name and address of one or more residents of this State upon whom notices, process affecting it, or orders of the Commissioner may be served;

(4)A statement showing its technical qualifications for acting in the capacity for which it seeks a license; and

(5)Any other relevant information and documents that the Commissioner may require.

(d)If the Commissioner determines that the applicant and the natural persons through whom it acts are qualified to provide the services proposed, and that all requirements of law are met, he shall issue a license specifying the authorized activity of the applicant. He shall not issue a license if the proposed activity would tend to create a monopoly or to lessen or to destroy price competition. Licenses issued pursuant to this section shall remain in effect until the licensee withdraws from the State or until the license is suspended or revoked.

(e)Any change in or amendment to any document required to be filed under this section shall be promptly filed with the Commissioner.

(f)Repealed by Session Laws 2005-210, s. 7, effective October 1, 2005.

(g)Every statistical organization shall file a statistical plan with the Commissioner for approval for each line of insurance for which the organization requests to be licensed. The Commissioner may, in the Commissioner's discretion, modify the plan to collect additional types of data.

(h)No statistical organization shall engage in any unfair or unreasonable practice with respect to its activities.

(i)A statistical organization is considered an insurance company for purposes of the applicability of G.S. 58-6-7. (1977, c. 828, s. 2; 2005-210, s. 7; 2006-264, s. 45(a).)