Bill Summaries: H208 (2021)

Tracking:
  • Summary date: Mar 2 2021 - View summary

    Makes organizational changes to move the definition given for the term clean risk as it is used in Article 37, which governs the NC Motor Vehicle Reinsurance Facility (Facility). Moves the definition from GS 58-37-35 to the Article's definitions statute, GS 58-37-1.

    Enacts GS 58-37-33 to prohibit an insurer from ceding any policy or renewal thereof held by a clean risk to the Facility. 

    Further amends GS 58-37-35 to eliminate provisions regarding subclassifications and rates for clean risks.

    Applies to policies issued or renewed after October 1, 2021.