North Carolina § 58-60-175 - (Contingent repeal - see note) Mitigation of responsibility.
Full text of North Carolina North Carolina General Statutes § 58-60-175 — (Contingent repeal - see note) Mitigation of responsibility., with citation guidance and answers to common questions.
§ 58-60-175. (Contingent repeal - see note) Mitigation of responsibility.
The Commissioner may order: An insurer to take reasonably appropriate corrective action for any consumer harmed by the insurer's, or by its insurance producer's, violation of this Part. An insurance producer to take reasonably appropriate corrective action for any consumer harmed by the insurance producer's violation of this Part. A general agency or independent agency that employs or contracts with an insurance producer to sell, or solicit the sale, of annuities to consumers, to take reasonably appropriate corrective action for any consumer harmed by the insurance producer's violation of this Part. Any applicable penalty under G.S. 58-2-70 for a violation of subsection (a) or (b) of G.S. 58-60-170 may be reduced or eliminated if corrective action for the consumer was taken promptly after a violation was discovered. A violation of this Part is an unfair method of competition and unfair and deceptive act or practice in the business of insurance in violation of G.S. 58-63-10. History (2007-298, s. 1.1.) Editor's Note. - Session Laws 2017-136, s. 4, provides: "The Department of Insurance shall adopt rules substantially similar to the most recent model regulation on suitability in annuity transactions issued by the National Association of Insurance Commissioners. Rules adopted pursuant to this section are not subject to Part 3 of Article 2A of Chapter 150B of the General Statutes." Session Laws 2017-136, s. 5, provides: "Part 4 of Article 60 of Chapter 58 of the General Statutes is repealed." Session Laws 2017-136, s. 6, provides, in part: "Section 5 of this act becomes effective on the date that rules adopted pursuant to Section 4 of this act become effective. . . . The Codifier of Rules shall notify the Revisor of Statutes of the effective date of rules adopted as required by this act. Except as otherwise provided, the remainder of this act is effective when it becomes law."
Source: official North Carolina text · Last verified 2026-08-27
Frequently Asked Questions About North Carolina § 58-60-175
What does North Carolina General Statutes § 58-60-175 cover?
Section 58-60-175 ("(Contingent repeal - see note) Mitigation of responsibility.") 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 § 58-60-175?
A common citation format is "North Carolina General Statutes § 58-60-175" (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 § 58-60-175 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.