FILED SENATE
Mar 10, 2021
GENERAL ASSEMBLY OF NORTH CAROLINA
S.B. 237
SESSION 2021 PRINCIPAL CLERK
S D
SENATE BILL DRS15124-NE-38
Short Title: Reinsurance Facility Board of Gov. Appointees. (Public)
Sponsors: Senator Johnson (Primary Sponsor).
Referred to:
1 A BILL TO BE ENTITLED
2 AN ACT REQUIRING THE NORTH CAROLINA COMMISSIONER OF INSURANCE TO
3 APPOINT A MEMBER NOMINATED BY THE ALLIANCE OF INSURANCE AGENTS
4 OF NORTH CAROLINA TO THE BOARD OF GOVERNORS OF THE MOTOR
5 VEHICLE REINSURANCE FACILITY.
6 The General Assembly of North Carolina enacts:
7 SECTION 1. G.S. 58-37-35 reads as rewritten:
8 "§ 58-37-35. The Facility; functions; administration.
9 …
10 (d) The Facility shall be administered by a Board of Governors. The Board of Governors
11 shall consist of 12 members having one vote each from the classifications specified in this
12 subsection and the Commissioner, who shall serve ex officio without vote. Each Facility
13 insurance company member serving on the Board shall be represented by a senior officer of the
14 company. Not more than one company in a group under the same ownership or management
15 shall be represented on the Board at the same time. Five members of the Board shall be selected
16 by the member insurers, which members shall be fairly representative of the industry. To insure
17 representative member insurers, one each shall be selected from the following: the American
18 Insurance Association (or its successors), the Property Casualty Insurers Association of America
19 (or its successors), stock insurers not affiliated with those trade associations, nonstock insurers
20 not affiliated with those trade associations, and the industry at large regardless of trade affiliation.
21 The at-large insurer shall be selected by the insurer company members of the Board. The
22 Commissioner shall appoint two members of the Board who are Facility insurance company
23 members domiciled in this State. The Commissioner shall appoint one member of the Board who
24 shall be selected from two nominees submitted by the Alliance of Insurance Agents of North
25 Carolina. The Commissioner shall appoint five four members of the Board who shall be fire and
26 casualty insurance agents licensed in this State and actively engaged in writing motor vehicle
27 insurance in this State. The term of office of the Board members shall be three years. All members
28 of the Board of Governors shall serve until their successors are selected and qualified and the
29 Commissioner may fill any vacancy on the Board from any of the classifications specified in this
30 subsection until the vacancies are filled in accordance with this Article. The Board of Governors
31 of the Facility shall also have as nonvoting members two persons who are not employed by or
32 affiliated with any insurance company or the Department and who are appointed by the Governor
33 to serve at the Governor's pleasure.
34 …."
35 SECTION 2. This act is effective when it becomes law and applies to all
36 appointments made on or after that date.
*DRS15124-NE-38*