§ 58-45-10. North Carolina Insurance Underwriting Association created.
§58‑45‑10. North Carolina Insurance Underwriting Associationcreated.
There is hereby created theNorth Carolina Insurance Underwriting Association, consisting of all insurersauthorized to write and engage in writing within this State, on a direct basis,essential property insurance, except town and county mutual insuranceassociations and assessable mutual companies as authorized by G.S. 58‑7‑75(5)b,58‑7‑75(5)d, and 58‑7‑75(7)b and except an insurer whoonly writes insurance in this State on property exempted from taxation by theprovisions of G.S. 105‑278.1 through G.S. 105‑278.8. Every suchinsurer shall be a member of the Association and shall remain a member of theAssociation so long as the Association is in existence as a condition of itsauthority to continue to transact the business of insurance in this State. (1967,c. 1111, s. 1; 1969, c. 249; 1971, c. 1067, s. 2; 1987 (Reg. Sess., 1988), c.975, s. 20; 1998‑211, s. 6.)