North Carolina § 58-47-180 - Premium collection and payment of claims.

§ 58-47-180. Premium collection and payment of claims.

The TPA or service company, at a minimum, shall: Periodically render an accounting to the self-insurer detailing all transactions performed by the TPA or service company pertaining to the business underwritten, premium or other charges collected, and claims paid by the self-insurer, when applicable. Deposit all receipts directly into an account maintained in the name of the self-insurer. Pay claims on drafts or checks of and authorized by the self-insurer. Not withdraw from the self-insurer's account except for authority limited to pay claims and refund premiums. Remit return premium, directly from the self-insurer's account, to the person entitled to the return premium. Any check disbursement authority granted to the TPA or service company may be terminated upon the self-insurer's written notice to the TPA or service company or upon termination of the agreement. The self-insurer may suspend the check disbursement authority during the pendency of any dispute regarding the cause for termination. History (1997-362, s. 3.)