Bill Summary for H 298 (2011-2012)
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| View NCGA Bill Details | 2011-2012 Session |
TO MAKE CHANGES IN THE INSURANCE LAWS TO PRIVATIZE ONLINE AND ADMINISTRATIVE PROCESSES FOR LICENSE APPLICANTS, ENSURE ACCURACY IN CERTIFICATES OF INSURANCE, REQUIRE PRIOR APPROVAL OF SMALL GROUP HEALTH INSURANCE RATES AND ENCOURAGE THE SALE OF CHILD-ONLY HEALTH INSURANCE POLICIES, AMEND THE RISK-BASED CAPITAL LAW TO MAINTAIN NAIC ACCREDITATION, PROVIDE AN EXEMPTION FOR LICENSING OF CLAIMS INPUT EMPLOYEES FOR PORTABLE ELECTRONIC DEVICES, PROHIBIT FEDERAL PREEMPTION OF CROP ADJUSTERS’ REGULATION, AND EASE THE REGULATORY BURDEN ON THE ASSOCIATION AGGREGATE SECURITY SYSTEM.Intro. by Dockham.
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Bill summary
House committee substitute makes the following changes to 2nd edition. Amends proposed GS 58-3-150(d) to provide that certificate or certificate of insurance does not include a document prepared or issued by an insurance company or producer that is used to verify or show evidence of the existence of property insurance provided to a lender to cover real or personal property which serves as the lender's security for commercial mortgages. Defines commercial mortgages as mortgages or other instruments that create a lien encumbering office, multiunit residential, apartments, commercial, or industrial properties. Provides that the commercial mortgage does not include a lien that encumbers one to four family residential properties. Makes a technical change.