North Carolina § 58-3-1 - State law governs insurance contracts.

§ 58-3-1. State law governs insurance contracts.

All contracts of insurance on property, lives, or interests in this State shall be deemed to be made therein, and all contracts of insurance the applications for which are taken within the State shall be deemed to have been made within this State and are subject to the laws thereof. History (1899, c. 54, s. 2; 1901, c. 705, s. 1; Rev., s. 4806; C.S., s. 6287.) Editor's Note. - Session Laws 2016-78, s. 6.1, provides: "The Department shall be authorized to take appropriate action to plan for and establish a private flood insurance market for North Carolina, in the event that the federal government empowers the states to establish and operate such markets." Legal Periodicals. - For note on validity of statutes localizing insurance contracts, see 13 N.C.L. Rev. 213 (1935). For comment, "Insurance Contract and Policy in General as It Relates to North Carolina," see 3 N.C. Cent. L.J. 259 (1972). For article, "Statutes of Limitations in the Conflict of Laws," see 52 N.C.L. Rev. 489 (1974). For article, "Foreign Law Between Domestic Commercial Parties: A Party Autonomy Approach with Particular Emphasis on North Carolina Law," see 30 Campbell L. Rev. 437 (2008). For article, "Healing Medicare: Enforcing Administrative Law Deadlines in Medicare Appeals," see 95 N.C.L. Rev. 1293 (2017).