North Carolina § 58-10-555 - Creation of special purpose financial captives.
Full text of North Carolina North Carolina General Statutes § 58-10-555 — Creation of special purpose financial captives., with citation guidance and answers to common questions.
§ 58-10-555. Creation of special purpose financial captives.
Special purpose financial captives (SPFCs) are provided by this Subpart exclusively to facilitate the securitization of one or more risks as a means of accessing alternative sources of capital and achieving the benefits of securitization. SPFCs are created for the limited purpose of entering into SPFC contracts and insurance securitization transactions and into related agreements to facilitate the accomplishment and execution of those transactions. The creation of SPFCs is intended to achieve greater efficiencies in structuring and executing insurance securitizations, to diversify and broaden sources of capital for insurers, to facilitate access for many insurers to insurance securitization and capital markets financing technology, and to further the economic development and expand the interest of this State through its captive insurance program. History (2013-116, s. 1.)
Source: official North Carolina text · Last verified 2026-08-27
Frequently Asked Questions About North Carolina § 58-10-555
What does North Carolina General Statutes § 58-10-555 cover?
Section 58-10-555 ("Creation of special purpose financial captives.") 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 § 58-10-555?
A common citation format is "North Carolina General Statutes § 58-10-555" (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 § 58-10-555 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.