State RegulationsNC specificDifficulty 2/5
An insurer notifies the Commissioner that it has terminated a producer's appointment and sends the producer a copy of the notification. Under G.S. 58-33-56, what may the producer do in response?
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Answer & full 3-part explanation (select an option above, or peek)
Why C is correct
Under G.S. 58-33-56, an insurer that terminates a producer must notify the Commissioner within 30 days after the termination's effective date and send the producer a copy of the notification within 15 days after making it; the producer may then file written comments with the Commissioner within 30 days after receiving the copy. The comment right gives the producer a chance to answer the insurer's report on the record.
Why the other options are wrong
- A) The comment window is 30 days, not 15; fifteen days is the insurer's deadline for sending the producer the copy.
- B) There is no bond mechanism; the statute provides a written-comment right, not a reinstatement remedy.
- D) The statute expressly gives the producer the right to submit written comments after receiving the copy.
Memory hook
Reported and copied? Thirty days to tell your side in writing.