North Carolina Self-Insurance Security Association.
A member self-insurer shall be insolvent for the purposes of this
Article under the following circumstances:
- Determination of insolvency by a court of competent jurisdiction.
- Institution of bankruptcy proceedings by or regarding the member
- The Board determines that the member self-insurer's total liabilities exceed
its total assets or the member self-insurer is unable or ceases to pay its debts
as they fall due or in the ordinary course of business.
- A member self‑insurer is deemed to be insolvent, bankrupt, or in
default as defined by the terms of any security instrument created pursuant to
the Association Aggregate Security System. (1985 (Reg. Sess., 1986), c. 1013, s. 1; 1987, c. 528,
s. 12; 2005.)
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of Contents page for Chapter 97. Workers' Compensation Act.
Text of Chapter 97. Workers' Compensation Act.
N.C. Industrial Commission ·
4340 Mail Service Center ·
Raleigh, NC 27699-4340
Main Telephone: (919) 807-2500 ·
Fax: (919) 715-0282
NCIC Home Page: http://www.ic.nc.gov/