{"data":{"id":"us-nc/n.c.-gen.-stat.-58-30-1","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 58-30-1","heading":"Construction and purpose.","body":"(a)\tThis Article does not limit powers granted to the Commissioner by any other provision of law. To the extent practicable, the Commissioner may supplement the provisions of this Article with those of Article 38A of Chapter 1 of the General Statutes.\n(b)\tThis Article shall be liberally construed to effect the purpose stated in subsection (c) of this section.\n(c)\tThe purpose of this Article is to protect the interests of policyholders, claimants, creditors, and the public generally with minimum interference with the normal prerogatives of the owners and managers of insurers, through:\n(1)\tEarly detection of any potentially dangerous condition in an insurer, and prompt application of appropriate corrective measures;\n(2)\tImproved methods for rehabilitating insurers, involving the cooperation and management expertise of the insurance industry;\n(3)\tEnhanced efficiency and economy of liquidation, through clarification of the law, to minimize legal uncertainty and litigation;\n(4)\tEquitable apportionment of any unavoidable loss;\n(5)\tLessening the problems of interstate rehabilitation and liquidation by facilitating cooperation between states in the liquidation process, and by extending the scope of personal jurisdiction over debtors of the insurer outside this State; and\n(6)\tRegulation of the insurance business by the impact of the law relating to delinquency procedures and substantive rules on the entire insurance business. (1989, c. 452, s. 1; 2023-133, s. 5.)","path":["Chapter 58. Insurance.","Article 30. Insurers Supervision, Rehabilitation, and Liquidation."],"source_url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_58/GS_58-30-1.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T18:06:53Z","sha256":"c44703e47dac060949301ccb6839953c934a420d94239b82ead9ffbb00cadd1e","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-58-29-25","next":"us-nc/n.c.-gen.-stat.-58-30-5"},"notice":"GroundRules: Original legal text. Not legal advice."}