North Carolina § 58-89A-85 - Supervision; rehabilitation; liquidation.
Full text of North Carolina North Carolina General Statutes § 58-89A-85 — Supervision; rehabilitation; liquidation., with citation guidance and answers to common questions.
§ 58-89A-85. Supervision; rehabilitation; liquidation.
If at any time the Commissioner determines, after notice and an opportunity for the licensee to be heard, that a licensee (i) has been or will be unable, in such a manner as may endanger the ability of the licensee, to fully perform its obligations pursuant to this Article or (ii) is bankrupt, the Commissioner may either (i) commence a supervision proceeding pursuant to Article 30 of this Chapter or (ii) apply to the Superior Court of Wake County or to the federal bankruptcy court that has previously taken jurisdiction over the licensee, if applicable, for an order directing the Commissioner or authorizing the Commissioner to rehabilitate or to liquidate a licensee in accordance with Article 30 of this Chapter. History (2004-162, s. 1; 2013-413, s. 11.1(d).) Effect of Amendments. - Session Laws 2013-413, s. 11.1(d), effective October 1, 2013, deleted "or in a hazardous financial condition" following "is bankrupt."
Source: official North Carolina text · Last verified 2026-08-27
Frequently Asked Questions About North Carolina § 58-89A-85
What does North Carolina General Statutes § 58-89A-85 cover?
Section 58-89A-85 ("Supervision; rehabilitation; liquidation.") 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 § 58-89A-85?
A common citation format is "North Carolina General Statutes § 58-89A-85" (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 § 58-89A-85 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.