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Code · North Carolina · Chapter 58 — Insurance

§ 58-64A-345. Contracts as preferred claims in liquidation.

77 words·~1 min read·/nc/chapter-58/58-64a-345

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§ 58-64A-345. Contracts as preferred claims in liquidation.
(a)In the event of liquidation of a provider, all continuing care and continuing care at home contracts executed by the provider shall be deemed preferred claims against all assets owned by the provider.
(b)Notwithstanding subsection
(a)of this section, the claims of all continuing care and continuing care at home contracts shall be subordinate to the liquidator's cost of administration or any secured claim. (2025-58, s. 2.)
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