2005 North Carolina Code - General Statutes § 58-45-45. Rates, rating plans, rating rules, and forms applicable.

§ 58‑45‑45.  Rates, rating plans, rating rules, and forms applicable.

(a)       Except as provided in subsection (b) of this section, the rates, rating plans, rating rules, and forms applicable to the insurance written by the Association shall be in accordance with the most recent manual rates or adjusted loss costs and forms that are legally in effect in the State. Except as provided in subsection (c) of this section, no special surcharge, other than those presently in effect, may be applied to the property insurance rates of properties located in the beach and coastal areas.

(b)       The rates, rating plans, and rating rules for the separate policies of windstorm and hail insurance described in G.S. 58‑45‑35(b) shall be filed by the Association with the Commissioner for the Commissioner's approval, disapproval, or modification. The provisions of Articles 40 and 41 of this Chapter shall govern the filings. Policy deductible plans, consistent with G.S. 58‑45‑1(b), may be filed by the Association with the Commissioner for the Commissioner's approval, disapproval, or modification.

(c)       Notwithstanding subsection (a) of this section, the Association may, subject to the prior approval of the Commissioner, adopt a schedule of special surcharges relating to homeowners' insurance policies issued by the Association pursuant to G.S. 58‑45‑30(d). Such schedule may reflect any differences in risk that can be demonstrated to have a probable effect on losses or expenses. Notwithstanding subsections (a) and (b) of this section, the provisions of G.S. 58‑36‑10(1), 36‑15(a), 58‑36‑20, and 58‑36‑25 shall apply to such filings. (1967, c. 1111, s. 1; 1969, c. 249; 1979, c. 601, s. 4; 1987 (Reg. Sess., 1988), c. 975, s. 24; 1991 (Reg. Sess., 1992), c. 784, s. 2; 1997‑498, ss. 7, 8; 1999‑114, s. 7.1; 2003‑158, s. 3.)