{"data":{"id":"us-nc/n.c.-gen.-stat.-58-15-15","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 58-15-15","heading":"Risk limitations.","body":"(a)\tExcept for Article 11 of this Chapter and as otherwise specifically provided, all the provisions of Articles 1 through 64 of this Chapter relating to insurers generally, and those relating to insurers writing the same kinds of insurance that reciprocals are permitted to write, are applicable to reciprocals.\n(b)\tA reciprocal shall be deemed to comply with G.S. 58-3-105 if:\n(1)\tIt issues policies containing a contingent assessment liability, provided for in G.S. 58-15-60; and\n(2)\tIt maintains reinsurance in an amount that the Commissioner considers adequate to reasonably limit the reciprocal's aggregate losses to the lesser of:\na.\tTen percent (10%) of the surplus to policyholders of the reciprocal multiplied by the number of subscribers;\nb.\tThe surplus to policyholders of the reciprocal multiplied by three; or\nc.\tFive million dollars ($5,000,000). (1989, c. 425, s. 1.)","path":["Chapter 58. Insurance.","Article 15. Reciprocal Insurance.","Part 1. General Provisions."],"source_url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_58/GS_58-15-15.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T18:06:53Z","sha256":"2295aae0b96b57fe01794ef243fe67f3ef1fb0fe01a9887bee3771676ec4a379","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-58-15-10","next":"us-nc/n.c.-gen.-stat.-58-15-20"},"notice":"GroundRules: Original legal text. Not legal advice."}