North Carolina § 97-135 - Insolvency.
Full text of North Carolina North Carolina General Statutes § 97-135 — Insolvency., with citation guidance and answers to common questions.
§ 97-135. Insolvency.
A member self-insurer shall be insolvent for the purposes of this Article under any of the following circumstances: Determination of insolvency by a court of competent jurisdiction. Institution of bankruptcy proceedings by or regarding the member self-insurer. The Board determines that the member self-insurer's total liabilities exceed its total assets or the member self-insurer is unable or ceases to pay its debts as they fall due or in the ordinary course of business. A member self-insurer is deemed to be insolvent, bankrupt, or in default as defined by the terms of any security instrument created pursuant to the Association Aggregate Security System. History (1985 (Reg. Sess., 1986), c. 1013, s. 1; 1987, c. 528, s. 12; 2005-400, s. 6.1.) Effect of Amendments. - Session Laws 2005-400, s. 6.1, effective January 1, 2006, inserted "any of" preceding "the following" in the first paragraph; inserted "member" twice preceding "self-insurer's" in subdivision (3); added subdivision (4); and made minor stylistic and punctuation changes.
Source: official North Carolina text · Last verified 2026-08-27
Frequently Asked Questions About North Carolina § 97-135
What does North Carolina General Statutes § 97-135 cover?
Section 97-135 ("Insolvency.") 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 § 97-135?
A common citation format is "North Carolina General Statutes § 97-135" (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 § 97-135 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.