2005 North Carolina Code - General Statutes § 58-71-115. Insurers to annually report surety bondsmen; notices of appointments and terminations; information confidential.

§ 58‑71‑115.  Insurers to annually report surety bondsmen; notices of appointments and terminations; information confidential.

Before July 1 of each year, every insurer shall furnish the Commissioner a list of all surety bondsmen appointed by the insurer to write bail bonds on the insurer's behalf. An insurer who appoints a surety bondsman in the State on or after July 1 of each year must notify the Commissioner of the appointment. All appointments are subject to the issuance of the proper license to the appointee under this Article.

An insurer terminating the appointment of a surety bondsman shall file a written notice of the termination with the Commissioner, together with a statement that the insurer has given or mailed notice to the surety bondsman and to the clerk of superior court of any county in the State in which the insurer has been obligated on bail bonds through the surety bondsman within the past three years. The notice to the Commissioner shall state the reasons, if any, for the termination. Information furnished in the notice to the Commissioner shall be privileged and shall not be used as evidence in or basis for any action against the insurer or any of its representatives. (1963, c. 1225, s. 24; 1975, c. 619, s. 1; 1995 (Reg. Sess., 1996), c. 726, s. 18.)