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Code · North Carolina · Chapter 58 — Insurance

§ 58-86-65. Pro rata reduction of benefits when fund insufficient to pay in full.

98 words·~1 min read·/nc/chapter-58/58-86-65

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§ 58-86-65. Pro rata reduction of benefits when fund insufficient to pay in full.
If, for any reason, the fund created and made available for any purpose covered by this Article shall be insufficient to pay in full any pension benefits, or other charges, then all benefits or payments shall be reduced pro rata, for as long as the deficiency in amount exists. No claim shall accrue with respect to any amount by which a pension or benefit payment shall have been reduced. (1957, c. 1420, s. 1; 1959, c. 1212, s. 1; 1981, c. 1029, s. 1.)
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