State Codes and Statutes
Statutes > North-carolina > Chapter_58 > GS_58-5-50§ 58‑5‑50. Deposits of foreign life insurance companies.
In addition to otherrequirements of this Chapter, all foreign life insurance companies shalldeposit securities, as specified in G.S. 58‑5‑20, that have amarket value of four hundred thousand dollars ($400,000) as a prerequisite ofdoing business in this State. All foreign life insurance companies shalldeposit an additional two hundred thousand dollars ($200,000) where suchcompanies cannot show three years of net income before being licensed in thisState. (1989,c. 485, s. 35; 2003‑212, s. 3; 2005‑215, s. 3; 2008‑124, s.2.1.)
