§ 58‑46‑1. Purpose and geographic coverage of Article.
(a) It is the purposeof this Article to provide a program whereby adequate basic property insurancemay be made available to property owners having insurable property in theState. It is further the purpose of this Article to encourage the improvementof properties located in the State and to arrest the decline of propertieslocated in the State. It is the intent of the General Assembly in creating and,from time to time, amending this Article that the market provided by thisArticle not be the first market of choice, but the market of last resort.
(b) This Article shallapply to all geographic areas of the State except the "Beach Area"defined in G.S. 58‑45‑5(2).
(c) As used in thisArticle, "crime insurance" means insurance against losses resultingfrom robbery, burglary, larceny, and similar crimes, as more specificallydefined and limited in the various crime insurance policies, or their successorforms of coverage, approved by the Commissioner and issued by the Association.Such policies shall not be more restrictive than those issued under the FederalCrime Insurance Program authorized by Public Law 91‑609. (1969,c. 1284; 1985, c. 519, s. 1; 1986, Ex. Sess., c. 7, s. 4; 1985 (Reg. Sess.,1986), c. 1027, s. 24; 1987, c. 731, s. 1; 1987 (Reg. Sess., 1988), c. 975, s.18; 1997‑498, s. 10.)
§ 58‑46‑1. Purpose and geographic coverage of Article.
(a) It is the purposeof this Article to provide a program whereby adequate basic property insurancemay be made available to property owners having insurable property in theState. It is further the purpose of this Article to encourage the improvementof properties located in the State and to arrest the decline of propertieslocated in the State. It is the intent of the General Assembly in creating and,from time to time, amending this Article that the market provided by thisArticle not be the first market of choice, but the market of last resort.
(b) This Article shallapply to all geographic areas of the State except the "Beach Area"defined in G.S. 58‑45‑5(2).
(c) As used in thisArticle, "crime insurance" means insurance against losses resultingfrom robbery, burglary, larceny, and similar crimes, as more specificallydefined and limited in the various crime insurance policies, or their successorforms of coverage, approved by the Commissioner and issued by the Association.Such policies shall not be more restrictive than those issued under the FederalCrime Insurance Program authorized by Public Law 91‑609. (1969,c. 1284; 1985, c. 519, s. 1; 1986, Ex. Sess., c. 7, s. 4; 1985 (Reg. Sess.,1986), c. 1027, s. 24; 1987, c. 731, s. 1; 1987 (Reg. Sess., 1988), c. 975, s.18; 1997‑498, s. 10.)
§ 58‑46‑1. Purpose and geographic coverage of Article.
(a) It is the purposeof this Article to provide a program whereby adequate basic property insurancemay be made available to property owners having insurable property in theState. It is further the purpose of this Article to encourage the improvementof properties located in the State and to arrest the decline of propertieslocated in the State. It is the intent of the General Assembly in creating and,from time to time, amending this Article that the market provided by thisArticle not be the first market of choice, but the market of last resort.
(b) This Article shallapply to all geographic areas of the State except the "Beach Area"defined in G.S. 58‑45‑5(2).
(c) As used in thisArticle, "crime insurance" means insurance against losses resultingfrom robbery, burglary, larceny, and similar crimes, as more specificallydefined and limited in the various crime insurance policies, or their successorforms of coverage, approved by the Commissioner and issued by the Association.Such policies shall not be more restrictive than those issued under the FederalCrime Insurance Program authorized by Public Law 91‑609. (1969,c. 1284; 1985, c. 519, s. 1; 1986, Ex. Sess., c. 7, s. 4; 1985 (Reg. Sess.,1986), c. 1027, s. 24; 1987, c. 731, s. 1; 1987 (Reg. Sess., 1988), c. 975, s.18; 1997‑498, s. 10.)
