{"data":{"id":"us-nc/n.c.-gen.-stat.-58-12-55","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 58-12-55","heading":"Phase-in provision.","body":"For risk-based capital reports required to be filed with respect to 1994, the following requirements apply in lieu of the provisions of G.S. 58-12-11:\n(1)\tIn the event of a company action level event with respect to a domestic insurer, the Commissioner shall take no regulatory action hereunder.\n(2)\tIn the event of a regulatory action level event under G.S. 58-12-16(a)(1), (2), or (3) the Commissioner shall take the actions required under G.S. 58-12-11.\n(3)\tIn the event of a regulatory action level event under G.S. 58-12-16(a)(4), (5), (6), (7), (8), or (9) or an authorized control level event, the Commissioner shall take the actions required under G.S. 58-12-16 with respect to the insurer.\n(4)\tIn the event of a mandatory control level event with respect to an insurer, the Commissioner shall take the actions required under G.S. 58-12-21 with respect to the insurer. (1993 (Reg. Sess., 1994), c. 678, s. 1.)","path":["Chapter 58. Insurance.","Article 12. Risk-Based Capital Requirements."],"source_url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_58/GS_58-12-55.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T18:06:53Z","sha256":"e2affb3fd92629be05398ebc31d91a7ee34880ec07caf64e0dd21ddfe742b2b1","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-58-12-50","next":"us-nc/n.c.-gen.-stat.-58-12-60"},"notice":"GroundRules: Original legal text. Not legal advice."}