§ 58-43-35. Punishment for issuing fire policies contrary to law. - North-carolina Statutes

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§58‑43‑35. Punishment for issuing fire policies contrary to law.

Any insurance company or agentwho makes, issues, or delivers a policy of fire insurance in willful violationof the provisions of Articles 1 through 64 of this Chapter that prohibit a domesticinsurance company from issuing policies before obtaining a license from theCommissioner; or that prohibit the issuing of a fire insurance policy for morethan the fair value of the property or for a longer term than seven years; orthat prohibit stipulations in insurance contracts restricting the jurisdictionof courts, or limiting the time within which an action may be brought to lessthan one year after the cause of action accrues or to less than six monthsafter a nonsuit by the plaintiff, shall be guilty of a Class 3 misdemeanor andshall, upon conviction, be punished only by a fine of not less than onethousand dollars ($1,000) nor more than five thousand dollars ($5,000); but thepolicy shall be binding upon the company issuing it. (1899,c. 54, s. 99; 1903, c. 438, s. 10; Rev., s. 4832; C.S., s. 6433; 1985, c. 666,s. 27; 1993, c. 539, s. 466; 1994, Ex. Sess., c. 24, s. 14(c); 1999‑132,s. 9.2.)

State Codes and Statutes

Statutes > North-carolina > Chapter_58 > GS_58-43-35

§58‑43‑35. Punishment for issuing fire policies contrary to law.

Any insurance company or agentwho makes, issues, or delivers a policy of fire insurance in willful violationof the provisions of Articles 1 through 64 of this Chapter that prohibit a domesticinsurance company from issuing policies before obtaining a license from theCommissioner; or that prohibit the issuing of a fire insurance policy for morethan the fair value of the property or for a longer term than seven years; orthat prohibit stipulations in insurance contracts restricting the jurisdictionof courts, or limiting the time within which an action may be brought to lessthan one year after the cause of action accrues or to less than six monthsafter a nonsuit by the plaintiff, shall be guilty of a Class 3 misdemeanor andshall, upon conviction, be punished only by a fine of not less than onethousand dollars ($1,000) nor more than five thousand dollars ($5,000); but thepolicy shall be binding upon the company issuing it. (1899,c. 54, s. 99; 1903, c. 438, s. 10; Rev., s. 4832; C.S., s. 6433; 1985, c. 666,s. 27; 1993, c. 539, s. 466; 1994, Ex. Sess., c. 24, s. 14(c); 1999‑132,s. 9.2.)

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State Codes and Statutes

Statutes > North-carolina > Chapter_58 > GS_58-43-35

§58‑43‑35. Punishment for issuing fire policies contrary to law.

Any insurance company or agentwho makes, issues, or delivers a policy of fire insurance in willful violationof the provisions of Articles 1 through 64 of this Chapter that prohibit a domesticinsurance company from issuing policies before obtaining a license from theCommissioner; or that prohibit the issuing of a fire insurance policy for morethan the fair value of the property or for a longer term than seven years; orthat prohibit stipulations in insurance contracts restricting the jurisdictionof courts, or limiting the time within which an action may be brought to lessthan one year after the cause of action accrues or to less than six monthsafter a nonsuit by the plaintiff, shall be guilty of a Class 3 misdemeanor andshall, upon conviction, be punished only by a fine of not less than onethousand dollars ($1,000) nor more than five thousand dollars ($5,000); but thepolicy shall be binding upon the company issuing it. (1899,c. 54, s. 99; 1903, c. 438, s. 10; Rev., s. 4832; C.S., s. 6433; 1985, c. 666,s. 27; 1993, c. 539, s. 466; 1994, Ex. Sess., c. 24, s. 14(c); 1999‑132,s. 9.2.)