2005 North Carolina Code - General Statutes § 58-5-50. Deposits of foreign life insurance companies.

§ 58‑5‑50.  Deposits of foreign life insurance companies.

In addition to other requirements of Articles 1 through 64 of this Chapter, all foreign life insurance companies shall deposit securities, as specified in G.S. 58‑5‑20, having a market value of four hundred thousand dollars ($400,000) as a prerequisite of doing business in this State. All foreign life insurance companies shall deposit an additional two hundred thousand dollars ($200,000) where such companies cannot show three years of net operational gains prior to admission. (1989, c. 485, s. 35; 2003‑212, s. 3; 2005‑215, s. 3.)