{"data":{"id":"us-nc/n.c.-gen.-stat.-58-13-5","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 58-13-5","heading":"Purposes.","body":"The purposes of this Article are to require insurers to maintain unencumbered assets in amounts equal to policyholder-related liabilities and minimum required capital and minimum required surplus; to provide preferential claims against insurers' assets in favor of owners, beneficiaries, assignees, and holders of insurance policies and certificates; and to prevent the pledging, hypothecation, or encumbrance of assets without a prior written order of the Commissioner. (1985, c. 327, s. 1; 1991, c. 681, s. 30.1; 1993, c. 504, s. 7.)","path":["Chapter 58. Insurance.","Article 13. Asset Protection Act."],"source_url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_58/GS_58-13-5.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T18:06:53Z","sha256":"3067f3cc5285085d3faf72ba01675fb81a85fdf70b9e45163351d2676b45f3e7","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-58-13-1","next":"us-nc/n.c.-gen.-stat.-58-13-10"},"notice":"GroundRules: Original legal text. Not legal advice."}