§ 58-46-20. Authority of Commissioner.
§58‑46‑20. Authority of Commissioner.
(a) Within 90 daysfollowing July 2, 1969, and before August 1, 1969, the directors of theassociation shall submit to the Commissioner for his review, a proposed FAIRPlan and articles of the association consistent with the provisions of thisArticle.
(b) The FAIR Plan andarticles of association shall be subject to approval by the Commissioner andshall take effect 10 days after having been approved by him. If theCommissioner disapproves all or any part of the proposed Plan and articles, thedirectors of the association shall within 30 days submit for review anappropriately revised Plan and articles and if the directors fail to do so, theCommissioner shall thereafter promulgate such Plan and articles not inconsistentwith the provisions of this Article.
(c) The Commissionermay designate the kinds of property insurance policies on principal residencesto be offered by the association, including insurance policies under Article 36of this Chapter, and the commission rates to be paid to agents or brokers forthese policies, if he finds, after a hearing held in accordance with G.S. 58‑2‑50,that the public interest requires the designation. The provisions of Chapter150B do not apply to any procedure under this subsection, except that G.S. 150B‑39and G.S. 150B‑41 shall apply to a hearing under this subsection. Within30 days after the receipt of notification from the Commissioner of a change indesignation pursuant to this subsection, the association shall submit a revisedplan and articles of association for approval in accordance with subsection (b)of this section.
(d) As used in thissection and in G.S. 58‑46‑15, "FAIR Plan", "plan ofoperation", and "articles of association" include all writtenrules, practices, and procedures of the Association, except for staffing andpersonnel matters. (1969, c. 1284; 1986, Ex. Sess., c. 7, s. 7; 1987, c.731, s. 1; 1991, c. 720, s. 4; 1991 (Reg. Sess., 1992), c. 784, s. 6.)