11 N.C. Admin. Code 12.0406

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

Section 12 .0406 - GROUP LIFE INSURANCE: COLLECTION FEE

No insurance company licensed in North Carolina will be permitted to pay a collection fee to any person for the collection of premiums under group life insurance contracts, salary savings plans, or any other plan of group life insurance who does not devote a majority of his or her time to the life insurance business and who is not licensed by this department.

11 N.C. Admin. Code 12 .0406

Authority G.S. 58-2-40; 58-33-25(j); 58-33-85;
Eff. February 1, 1976;
Readopted Eff. September 26, 1978;
Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. May 1, 2018.

Authority G.S. 58-2-40; 58-33-25(j); 58-33-85;
Eff. February 1, 1976;
Readopted Eff. September 26, 1978.