State RegulationsNC specificDifficulty 1/5
An insurance company appoints a North Carolina producer, and the producer submits the first application through that appointment. Within what period must the insurer file the notice of appointment?
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Answer & full 3-part explanation (select an option above, or peek)
Why B is correct
Under G.S. 58-33-40(b), an insurer must file a notice of appointment within 15 days after the date the first insurance application is submitted by the producer. The appointment then continues as long as both the producer and the insurer remain licensed, and either party may cancel it; renewal appointment fees are remitted before April 1 of each year. The filing deadline is keyed to the first application, not to licensure or policy delivery.
Why the other options are wrong
- A) Thirty days is the period for notifying the Commissioner of a producer termination under G.S. 58-33-56, not the appointment filing deadline.
- C) There is no 10-business-day, policy-delivery trigger for appointments; G.S. 58-33-40(b) keys the 15-day clock to the first application.
- D) There is no quarterly filing window; the statutory deadline in G.S. 58-33-40(b) runs 15 days from the first application, while April 1 concerns renewal fee remittances.
Memory hook
First application in, 15 days to file the appointment.