Bill Summary for H 737 (2025-2026)
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View NCGA Bill Details(link is external) | 2025-2026 Session |
AN ACT TO ELIMINATE THE TRAINING COURSE REQUIREMENTS FOR INSURANCE PRODUCER LICENSURE, TO CLARIFY THE APPLICABILITY OF THE CAP ON INSURANCE REFERRAL FEES PAID TO NONLICENSED PERSONS, TO MAINTAIN NAIC ACCREDITATION OF THE DEPARTMENT OF INSURANCE BY IMPLEMENTING GROUP CAPITAL CALCULATION AND LIQUIDITY STRESS TEST REQUIREMENTS, TO AMEND THE NORTH CAROLINA PROFESSIONAL EMPLOYER ORGANIZATION ACT, TO REVISE THE INSURANCE GUARANTY ASSOCIATION ACT, TO CLARIFY INSURANCE REBATE PERMITTED TRADE PRACTICES, TO CLARIFY THE LAWS RELATING TO THE EXCHANGE OF BUSINESS BETWEEN INSURANCE PRODUCERS, TO REQUIRE DRIVERS SUBJECT TO THE INEXPERIENCED DRIVER PREMIUM SURCHARGE TO MAINTAIN OR BENEFIT FROM CONTINUOUS LIABILITY COVERAGE, TO PLACE RESTRICTIONS ON RESIDENTIAL LEASES REQUIRING RENTERS INSURANCE, TO MAKE CHANGES TO THE EFFECTIVE DATE OF CERTAIN PROVISIONS CONCERNING THE CALCULATION OF UNDERINSURED MOTORIST COVERAGE AND INSURANCE RATEMAKING LAWS IN S.L. 2023-133, AS AMENDED BY S.L. 2024-29, TO AUTHORIZE SALESMEN TO REGISTER WITH MULTIPLE DEALERS UNDER COMMON OWNERSHIP OR CONTROL, AND TO AUTHORIZE POLICY CANCELLATION UPON CHARGEBACK OF A CREDIT CARD PREMIUM PAYMENT.Intro. by Humphrey, Balkcom.
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Bill summary
Senate amendment to the 2nd edition makes the following changes. Makes conforming changes to act’s long title. Removes provisions amending Article 10B, “Peer-to-Peer (PTP) Vehicle Sharing,” of GS Chapter 20.
Makes organizational changes.
Part VIII.
Changes the part’s effective date from January 1, 2026, to July 1, 2026.
Part X.
Amends the amount that the landlord may charge under GS 42-46 to the actual costs incurred to obtain required insurance coverage and an administrative fee not to exceed to $50 per year, and only allows this charge when the tenant fails to provide, within three business days of the landlord's request, proof that the tenant has obtained the required insurance.
Part XII.
Changes the reference in the part’s heading from “brokers” to “salesmen.”
Makes the act’s changes to GS 78A-36 effective October 1, 2025, instead of when the act becomes law.
Part XIII.
Deems a chargeback of a premium payment made by credit card a nonpayment of premium under GS 58-41-15 (certain policy cancellations prohibited). Provides that in those instances, any cancellation is effective retroactively to the date the premium payment was made by credit card. Makes conforming changes.