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Code · North Carolina · Chapter 58 — Insurance

§ 58-72-5. Penalty for officer acting without bond.

104 words·~1 min read·/nc/chapter-58/58-72-5

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§ 58-72-5. Penalty for officer acting without bond.
Every person or officer of whom an official bond is required, who presumes to discharge any duty of his office before executing such bond in the manner prescribed by law, is liable to a forfeiture of five hundred dollars ($500.00) to the use of the State for each attempt so to exercise his office. The clear proceeds of forfeitures provided for in this section shall be remitted to the Civil Penalty and Forfeiture Fund in accordance with G.S. 115C-457.2. (R.C., c. 78, s. 8; Code, s. 1882; Rev., s. 278; C.S., s. 325; 1998-215, s. 91.)
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