North Carolina § 58-58-130 - Distribution of surplus in mutual companies.
Full text of North Carolina North Carolina General Statutes § 58-58-130 — Distribution of surplus in mutual companies., with citation guidance and answers to common questions.
§ 58-58-130. Distribution of surplus in mutual companies.
Every life insurance company doing business in this State upon the principle of mutual insurance, or the members of which are entitled to share in the surplus funds thereof, may distribute the surplus annually, or once in two, three, four, or five years, as its directors determine. No payments shall be made to policyholders by way of dividends unless the company possesses admitted assets in the amount of such payments in excess of its capital and/or minimum required surplus and all other liabilities. History (1903, c. 536, s. 10; Rev., s. 4776; C.S., s. 6466; 1945, c. 379.)
Source: official North Carolina text · Last verified 2026-08-27
Frequently Asked Questions About North Carolina § 58-58-130
What does North Carolina General Statutes § 58-58-130 cover?
Section 58-58-130 ("Distribution of surplus in mutual companies.") 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 § 58-58-130?
A common citation format is "North Carolina General Statutes § 58-58-130" (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 § 58-58-130 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.