N.C. Gen. Stat. § 58-64A-15: Dividends and distributions.
Where this section sits in the code
- Chapter 58. Insurance.
- Article 64A. Continuing Care Retirement Communities.
- Part 1. General Provisions.
No dividend or other distribution of equity or net assets shall be paid by any provider after the Commissioner has determined that the provider is in a hazardous condition or has been determined to not be in satisfactory actuarial balance in an actuarial study filed with the Commissioner pursuant to G.S. 58-64A-210, or when the payment would have the effect of creating a hazardous condition in the provider or cause the provider to not be in satisfactory actuarial balance. (2025-58, s. 2.)
Collected 2026-08-27T18:06:53Z. Source file · JSON