State RegulationsNC specificDifficulty 1/5
An insurer appoints a new producer, and the producer submits the first insurance application under that appointment. Within how many days must the insurer file the notice of appointment with the Commissioner?
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Answer & full 3-part explanation (select an option above, or peek)
Why B is correct
G.S. 58-33-40(b) requires the insurer to file notice of appointment within 15 days after the date the first insurance application is submitted by the appointed producer. Once effective, the appointment continues as long as both the producer and the insurer remain licensed, unless either party cancels it, and renewal appointment fees are remitted before April 1 each year.
Why the other options are wrong
- A) 5 days matches no appointment filing deadline in Article 33.
- C) 30 days is the insurer's deadline for notifying the Commissioner after terminating a producer under G.S. 58-33-56, not for filing an appointment.
- D) 45 days is the outside limit in the premium-forfeiture notice rules and has no role in appointment filings.
Memory hook
First application in? Clock starts — appointment filed in 15 days.