§ 97-93. Employers required to carry insurance or prove financial ability to pay for benefits; employers required to post notice; self-insured employers regulated by Commissioner of Insurance.
§97‑93. Employers required to carry insurance or prove financial abilityto pay for benefits; employers required to post notice; self‑insuredemployers regulated by Commissioner of Insurance.
(a)Â Â Â Â Â Â Â Every employersubject to the provisions of this Article relative to the payment ofcompensation shall either:
(1)Â Â Â Â Â Â Â Insure and keepinsured his liability under this Article in any authorized corporation,association, organization, or in any mutual insurance association formed by agroup of employers so authorized; or
(2)Â Â Â Â Â Â Â Repealed by SessionLaws 1997‑362, s. 5.
(3)Â Â Â Â Â Â Â Obtain a licensefrom the Commissioner of Insurance under Article 5 of this Chapter or underArticle 47 of Chapter 58 of the General Statutes.
(b)Â Â Â Â Â Â Â through (d)Repealed by Session Laws 1997‑362, s. 5.
(e)Â Â Â Â Â Â Â Every employer whois in compliance with the provisions of subsection (a) of this section shallpost in a conspicuous place in places of employment a notice stating thatemployment by this employer is subject to the North Carolina Workers'Compensation Act and stating whether the employer has a policy of insuranceagainst liability or qualifies as a self‑insured employer. In the eventthe employer allows its insurance to lapse or ceases to qualify as a self‑insuredemployer, the employer shall, within five working days of this occurrence,remove any notices indicating otherwise. (1929, c. 120, s. 67; 1943,c. 543; 1973, c. 1291, s. 12; 1979, c. 345; 1983, c. 728; 1985, c. 119, s. 1;1993, c. 120, ss. 1, 2; 1993 (Reg. Sess., 1994), c. 679, s. 8.2; 1995, c. 193,s. 64; c. 471, s. 1; 1997‑362, s. 5.)