NORTH CAROLINA GENERAL ASSEMBLY

1977 SESSION

CHAPTER 710

SENATE BILL 144

AN ACT TO AMEND ARTICLE 25A OF CHAPTER 58 OF THE GENERAL STATUTES TO REQUIRE THE REINSURANCE FACILITY TO PROVIDE ADDITIONAL CEDING PRIVILEGES FOR MOTOR VEHICLE LIABILITY INSURANCE.

The General Assembly of North Carolina enacts:

Section 1.  G.S. 58-248.33(b) is hereby amended by adding a new subsection to read as follows:

"(3)      Whenever the additional ceding privileges are provided as in G.S. 58‑248.33(b)(2) for any component of motor vehicle insurance, the same additional ceding privileges shall be available to 'all other' types of risks subject to the rating jurisdiction of the North Carolina Automobile Rate Administrative Office."

Sec. 2.  This act shall become effective upon ratification.

In the General Assembly read three times and ratified, this the 23rd day of June, 1977.