NORTH CAROLINA GENERAL ASSEMBLY

1979 SESSION

CHAPTER 497

HOUSE BILL 1033

AN ACT TO PERMIT CORPORATE INSURERS TO TERMINATE THE MOTOR VEHICLE INSURANCE POLICIES OF MEMBERS OF AN ORGANIZATION WHO FAIL TO MEET MEMBERSHIP REQUIREMENTS.

The General Assembly of North Carolina enacts:

Section 1.  A new subdivision, numbered (5), is added to G.S. 58-248.36 to read as follows:

"(5)      The named insured, at the time of renewal, fails to meet the requirements contained in the corporate charter, articles of incorporation, and/or bylaws of the insurer, when the insurer is a company organized for the sole purpose of providing members of an organization with insurance policies in North Carolina."

Sec. 2.  This act is effective upon ratification.

In the General Assembly read three times and ratified, this the 1st day of May, 1979.