State RegulationsNC specificDifficulty 1/5
An insurer appoints a new North Carolina producer, who submits her first application for coverage on the insurer's behalf. Under G.S. 58-33-40, within how long 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), the insurer must file the 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, unless either party cancels it, and renewal appointment fees are remitted before April 1 of each year.
Why the other options are wrong
- A) Five business days is the replacement-rule notice period and is not the appointment filing deadline.
- C) The trigger is the submission of the first application, not the delivery of a policy, and the period is 15 days rather than 30.
- D) A 90-day window appears nowhere in the appointment statute; the deadline is 15 days from the first application.
Memory hook
Appointment paperwork: 15 days after the first application goes in.