There is a newer version of the North Carolina General Statutes
2014 North Carolina General Statutes
Chapter 58 - Insurance.
Article 1 - Title and Definitions.
§ 58-1-10 - Contract of insurance.
NC Gen Stat § 58-1-10 (2014) What's This?
58-1-10. Contract of insurance.
A contract of insurance is an agreement by which the insurer is bound to pay money or its equivalent or to do some act of value to the insured upon, and as an indemnity or reimbursement for the destruction, loss, or injury of something in which the other party has an interest. (1899, c. 54, s. 2; Rev., s. 4679; C.S., s. 6262; 1945, c. 383.)
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