North Carolina § 58-58-86 - Insurable interest of charitable organizations.
Full text of North Carolina North Carolina General Statutes § 58-58-86 — Insurable interest of charitable organizations., with citation guidance and answers to common questions.
§ 58-58-86. Insurable interest of charitable organizations.
If an organization described in section 501(c)(3) of the Internal Revenue Code purchases or receives by assignment, before, on, or after the effective date of this section, life insurance on an insured who consents to the purchase or assignment, the organization is deemed to have an insurable interest in the insured person's life. Expired effective October 1, 2007, pursuant to Session Laws 2004-124, s. 32F.2. History (1991, c. 644, s. 2; 2004-124, ss. 32F.1, 32F.2.) Effect of Amendments. - Session Laws 2004-124, s. 32F.1, effective July 20, 2004, and expiring October 1, 2007, added the subsection (a) designation; in subsection (a), inserted "or an entity," "in writing," and "or entity"; and added subsection (b).
Source: official North Carolina text · Last verified 2026-08-27
Frequently Asked Questions About North Carolina § 58-58-86
What does North Carolina General Statutes § 58-58-86 cover?
Section 58-58-86 ("Insurable interest of charitable organizations.") 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 § 58-58-86?
A common citation format is "North Carolina General Statutes § 58-58-86" (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 § 58-58-86 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.