11 N.C. Admin. Code 12.0403

Current through Register Vol. 39, No. 12, December 1, 2024

Section 12 .0403 - TERMINATION OF LIFE INSURANCE: EMPLOYEE-EMPLOYER CONTRACTS

Individual life policies issued pursuant to G.S. 58-58-150 may be terminated by the insurance company when the following conditions occur:

(1) All like policies issued to employees of an employer are terminated;

(2) When the employee terminates his employment with that employer.

11 N.C. Admin. Code 12 .0403

Authority G.S. 58-2-40; 58-58-150;
Eff. February 1, 1976;
Readopted Eff. September 26, 1978;
Amended Eff. April 8, 2002;
Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. May 1, 2018.

Authority G.S. 58-2-40; 58-58-150;
Eff. February 1, 1976;
Readopted Eff. September 26, 1978;
Amended Eff. April 8, 2002.