{"data":{"id":"us-nc/n.c.-gen.-stat.-58-12-60","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 58-12-60","heading":"Property or casualty phase-in provision.","body":"For risk-based capital reports required to be filed by property or casualty insurers with respect to 1995, the following requirements apply in lieu of the provisions of G.S. 58-12-11, 58-12-16, 58-12-21, and 58-12-25:\n(1)\tIn the event of a company action level event with respect to a domestic insurer, the Commissioner shall take no regulatory action under this Article.\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. (1995, c. 318, s. 7.)","path":["Chapter 58. Insurance.","Article 12. Risk-Based Capital Requirements."],"source_url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_58/GS_58-12-60.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T18:06:53Z","sha256":"8cb0b7dc7af6c1c25de12ff3c2458f189f8f47178c61147f9f17ca1111e83f45","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-58-12-55","next":"us-nc/n.c.-gen.-stat.-58-12-65"},"notice":"GroundRules: Original legal text. Not legal advice."}