North Carolina § 58-42-20 - Classification and rates.
Full text of North Carolina North Carolina General Statutes § 58-42-20 — Classification and rates., with citation guidance and answers to common questions.
§ 58-42-20. Classification and rates.
Each plan shall provide for: The method of classifying risks; The making and filing of rates that are not excessive, inadequate, or unfairly discriminatory and that are calculated on an actuarially sound basis and policy forms applicable to the various risks insured by the plan; The adjusting and processing of claims; The commission rates to be paid to agents or brokers for coverages written by the plan; and Any other insurance or investment functions that are necessary for the purpose of providing adequate and readily accessible coverage. History (1986, Ex. Sess., c. 7, s. 1; 1999-114, s. 1.)
Frequently Asked Questions About North Carolina § 58-42-20
What does North Carolina General Statutes § 58-42-20 cover?
Section 58-42-20 ("Classification and rates.") 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 § 58-42-20?
A common citation format is "North Carolina General Statutes § 58-42-20" (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 § 58-42-20 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.