State RegulationsNC specificDifficulty 1/5
Under G.S. 58-1-10, the North Carolina Insurance Code applies to:
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Answer & full 3-part explanation (select an option above, or peek)
Why D is correct
Under G.S. 58-1-10, Chapter 58 reaches all insurance transacted in North Carolina, including business written by foreign and alien insurers admitted here. The Code is not limited to domestic companies, which is why out-of-state carriers operating in North Carolina must comply with its provisions.
Why the other options are wrong
- A) Domestic insurers are covered, but so are foreign and alien insurers transacting business in the state.
- B) The Code applies by its own terms; no Commissioner exemption removes an insurer from the Chapter's scope.
- C) A home-office location is irrelevant; the trigger under G.S. 58-1-10 is transacting insurance in North Carolina.
Memory hook
Chapter 58 follows the business, not the address.