North Carolina § 58-58-65 - Reinsurance of companies regulated.
Full text of North Carolina North Carolina General Statutes § 58-58-65 — Reinsurance of companies regulated., with citation guidance and answers to common questions.
§ 58-58-65. Reinsurance of companies regulated.
The receiver of any life insurance company organized under the laws of this State, when the assets of the company are sufficient for that purpose, and the consent of two thirds of its policyholders has been secured in writing, may reinsure all the policy obligations of such company in some other solvent life insurance company, or, when the assets are insufficient to secure the reinsurance of all the policies in full, he may reinsure such a percentage of each and every policy outstanding as the assets will secure; but there must be no preference or discrimination as against any policyholder, and the contract for such reinsurance by the receiver must be approved by the Commissioner before it has effect. History (1899, c. 54, s. 58; 1903, c. 536, s. 9; Rev., s. 4778; C.S., s. 6462; 1945, c. 379; 1991, c. 720, s. 61.) PART 3. INSURABLE INTERESTS AND OTHER RIGHTS.
Source: official North Carolina text · Last verified 2026-08-27
Frequently Asked Questions About North Carolina § 58-58-65
What does North Carolina General Statutes § 58-58-65 cover?
Section 58-58-65 ("Reinsurance of companies regulated.") 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 § 58-58-65?
A common citation format is "North Carolina General Statutes § 58-58-65" (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 § 58-58-65 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.