11 NCAC 11C .0503          ACCREDITED REINSURER ‑ REVOCATION OF ACCREDITATION

The Commissioner may revoke the accreditation of a reinsurer if its policyholders' surplus falls below twenty million dollars ($20,000,000) or its continued status as an accredited reinsurer is deemed to present a condition that is hazardous to the insurance public of North Carolina.

History Note:        Authority G.S. 58‑2‑40; 58‑7‑21(b)(2);

Eff. April 1, 1993;

Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. December 20, 2015.