North Carolina § 58-10-130 - Unearned premium reserve.
Full text of North Carolina North Carolina General Statutes § 58-10-130 — Unearned premium reserve., with citation guidance and answers to common questions.
§ 58-10-130. Unearned premium reserve.
The unearned premium reserve shall be computed as follows: The unearned premium reserve for premiums paid in advance annually shall be calculated on the monthly pro rata fractional basis. Premiums paid in advance for 10-year coverage shall be placed in the unearned premium reserve and shall be released from this reserve as follows: 1st month - 1/132; 2nd through 12th month - 2/132 each month; 13th month - 3/264; 14th through 120th month - 1/132 per month; 121st month - 1/264 Premiums paid in advance for periods in excess of 10 years. During the first 10 years of coverage the unearned portion of the premium shall be the premium collected minus an amount equal to the premium that would have been earned had the applicable premium for 10 years of coverage been received. The premium remaining after 10 years shall be released from the unearned premium reserve monthly pro rata over the remaining term of coverage. Repealed by Session Laws 2001-334, s. 16.1, effective August 3, 2001. The case basis method shall be used to determine the loss reserve which shall include a reserve for claims reported and unpaid and a reserve for claims incurred but not reported. History (2001-223, s. 11; 2001-334, s. 16.1.)
Source: official North Carolina text · Last verified 2026-08-27
Frequently Asked Questions About North Carolina § 58-10-130
What does North Carolina General Statutes § 58-10-130 cover?
Section 58-10-130 ("Unearned premium reserve.") is part of the North Carolina General Statutes, the codified statutory law of North Carolina. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite North Carolina § 58-10-130?
A common citation format is "North Carolina General Statutes § 58-10-130" (North Carolina). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of North Carolina law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the North Carolina official source linked on this page or consult a licensed North Carolina attorney.
How does North Carolina § 58-10-130 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in North Carolina can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in North Carolina.