N.C. Gen. Stat. § 58-10-120

Current through Session Law 2024-53

Section 58-10-120 - Definitions

As used in this Part:

(1) "Mortgage guaranty insurers report of policyholders position" means the supplementary report required by the Commissioner.

(2) "Policyholders position" means the contingency reserve established under G.S. 58-10-135 and policyholders' surplus. "Minimum policyholders position" is calculated as described in G.S. 58-10-125.

(3) "Policyholders surplus" means an insurer's net worth; the difference between its assets and liabilities, as reported in its annual statement.

N.C. Gen. Stat. § 58-10-120

Amended by 2005 N.C. Sess. Laws 215, s. 11, eff. 10/1/2005.

Added by 2001-223, s. 11, eff. 6/15/2001.