{"data":{"id":"us-nc/n.c.-gen.-stat.-58-21-21","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 58-21-21","heading":"Nonadmitted domestic surplus lines insurer.","body":"(a)\tNotwithstanding any other law, a domestic insurer possessing minimum capital and surplus of at least fifteen million dollars ($15,000,000), pursuant to a resolution by its board of directors and on the written approval of the Commissioner, may be designated as a nonadmitted domestic surplus lines insurer.\n(b)\tA nonadmitted domestic surplus lines insurer shall only write surplus lines insurance in this State procured pursuant to the requirements of this Article. A nonadmitted domestic surplus lines insurer may write surplus lines insurance in any other jurisdiction in which the insurer is eligible to write surplus lines insurance if the nonadmitted domestic surplus lines insurer complies with any requirements of that jurisdiction.\n(c)\tInsurance written by a nonadmitted domestic surplus lines insurer is subject to the premium receipts tax required by G.S. 58-21-85.\n(d)\tFor the purposes of the federal Nonadmitted and Reinsurance Act of 2010 (15 U.S.C. § 8206), a domestic nonadmitted surplus lines insurer shall be considered a nonadmitted insurer as the term is defined in the Act with respect to risks insured in this State.\n(e)\tSurplus lines insurance policies issued in this State by a nonadmitted domestic surplus lines insurer are not subject to the protection of or other provisions of Article 48 or 62 of this Chapter.\n(f)\tSurplus lines insurance policies issued in this State by a nonadmitted domestic surplus lines insurer are not subject to and are exempt from all statutory requirements relating to insurance rating and rating plans, policy forms, policy cancellation, and nonrenewal in the same manner and to the same extent as a surplus lines insurer domiciled in another state.\n(g)\tAll financial and solvency requirements imposed upon domestic admitted insurers including the following, shall apply to nonadmitted domestic surplus lines insurers unless nonadmitted domestic surplus lines insurers are otherwise specifically exempted:\nG.S. 58-1-5.\tDefinitions.\nG.S. 58-2-125.\tAuthority over all insurance companies; no exemptions\nfrom license.\nG.S. 58-2-131.\tExaminations to be made; authority, scope, scheduling,\nand conduct of examinations.\nG.S. 58-2-132.\tExamination Reports.\nG.S. 58-2-133.\tConflict of interest; cost of examinations; immunity from liability.\nG.S. 58-2-134.\tCost of certain examinations.\nG.S. 58-2-150.\tOath required for compliance with law.\nG.S. 58-2-155.\tInvestigation of charges.\nG.S. 58-2-160.\tReporting and investigation of insurance and reinsurance fraud\nand the financial condition of licensees; immunity from liability.\nG.S. 58-2-162.\tEmbezzlement by insurance producers or administrators.\nG.S. 58-2-165.\tAnnual, semiannual, monthly, or quarterly statements to be filed\nwith Commissioner.\nG.S. 58-2-185.\tRecord of business kept by companies and insurance producers;\nCommissioner may inspect.\nG.S. 58-2-190.\tCommissioner may require special reports.\nG.S. 58-2-195.\tCommissioner may require records, reports, etc., for agencies,\ninsurance producers, and others.\nG.S. 58-2-200.\tBooks and papers required to be exhibited.\nG.S. 58-7-21.\tCredit allowed a domestic ceding insurer.\nG.S. 58-7-26.\tAsset or reduction from liability for reinsurance ceded by a\ndomestic insurer to an assuming insurer not meeting the\nrequirements of G.S. 58-7-121.\nG.S. 58-7-30.\tInsolvent ceding insurer.\nG.S. 58-7-31.\tLife and health reinsurance agreements.\nG.S. 58-7-46.\tNotification to Commissioner for president or chief executive\nofficer changes.\nG.S. 58-7-73.\tDissolution of insurers.\nG.S. 58-7-160.\tInvestments unlawfully acquired.\nG.S. 58-7-162.\tAllowed or admitted assets.\nG.S. 58-7-163.\tAssets not allowed.\nG.S. 58-7-165.\tEligible investments.\nG.S. 58-7-167.\tGeneral qualifications.\nG.S. 58-7-168.\tAuthorization of investment.\nG.S. 58-7-170.\tDiversification.\nG.S. 58-7-172.\tCash and deposits.\nG.S. 58-7-173.\tPermitted insurer investments.\nG.S. 58-7-179.\tMortgage loans.\nG.S. 58-7-180.\tChattel mortgages.\nG.S. 58-7-183.\tSpecial consent investments.\nG.S. 58-7-185.\tProhibited investments and investment underwriting.\nG.S. 58-7-188.\tTime limit for disposal of ineligible property and securities; effect\nof failure to dispose.\nG.S. 58-7-190.\tValuation of securities and investments.\nG.S. 58-7-193.\tValuation of property.\nG.S. 58-7-197.\tReplacing certain assets; reporting certain liabilities.\nG.S. 58-7-200.\tInvestment transactions.\nG.S. 58-7-205.\tDerivative transactions.\nPart 7 of Article 10.\tRisk Management and Own Risk and Solvency Assessment.\nArticle 12.\tRisk-Based Capital Requirements.\nArticle 13.\tAsset Protection Act.\nArticle 19.\tInsurance Holding Company System Regulatory Act.\nArticle 30.\tInsurers Supervision, Rehabilitation, and Liquidation. (2018-120, s. 2.1(f); 2022-46, s. 14(w).)","path":["Chapter 58. Insurance.","Article 21. Surplus Lines Act."],"source_url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_58/GS_58-21-21.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T18:06:53Z","sha256":"37900bb072daff8aa0990b38a3508a28a1a09ac0e465161d376b58bf1207b894","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-58-21-20","next":"us-nc/n.c.-gen.-stat.-58-21-22"},"notice":"GroundRules: Original legal text. Not legal advice."}