GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 1997

S	3 

SENATE BILL 993
Rules and Operations of the Senate Committee Substitute Adopted 4/29/97
Third Edition Engrossed 4/30/97

Short Title:  Medical Service Corp. Charters.	(Public)

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Sponsors:

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Referred to:  

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April 21, 1997

A BILL TO BE ENTITLED
AN ACT TO AUTHORIZE THE COMMISSIONER OF INSURANCE TO ADOPT RULES  TO PROTECT THE RIGHTS OF SUBSCRIBERS AND CERTIFICATE HOLDERS IN THE RESERVES AND CAPITAL OF HOSPITAL, MEDICAL, AND DENTAL SERVICE CORPORATIONS UPON CONVERSION.
The General Assembly of North Carolina enacts:
Section 1.  The Commissioner of Insurance may adopt rules, after consultation with the Joint Legislative Commission on Governmental Operations, to protect adequately the rights of subscribers and certificate holders in the reserves and capital of corporations subject to the provisions of Articles 65 and 66 of Chapter 58 of the General Statutes when those corporations amend their charters to convert into either a mutual nonstock or stock accident and health insurance company or life insurance company, as provided by G.S. 58-65-130(3). 
Section 2.  This act is effective when it becomes law.