13 .0403 - MOTOR CLUB LICENSING PROCEDURES

13 .0403. MOTOR CLUB LICENSING PROCEDURES

(a) Applicants must meet minimum qualifications as set forth in G.S. 58, Article 69.

(b) Applicants must submit a properly completed "Application for Motor Club License" to the Division. The following items shall be attached to and made a part of the application:

(1) a duly authenticated copy of the applicant's articles of incorporation, together with all amendments and supplements thereto;

(2) a duly authenticated copy of the applicant's constitution and by-laws;

(3) if the applicant is a foreign corporation, a copy of the certificate of authority to transact business in this state issued by the North Carolina Secretary of State;

(4) copies of all membership solicitation material, insurance certificates, membership cards, emblems, service contracts and any other material supplied to members or prospective members by the applicant;

(5) a current audited financial statement of the applicant, proposed by a certified public accountant or by a qualified independent accountant who is engaged in the public practice of accounting, not more than three months prior to the date the application is submitted to the Department of Insurance;

(6) a surety bond or deposit of securities as specified in G.S. 58-69-10;

(7) a complete summary of the applicant's plan of operation in the State of North Carolina;

(8) a check in the amount of the license fee as specified in G.S. 58-69-10 (made payable to the North Carolina Department of Insurance); and

(9) such other data and information as the Commissioner of Insurance may deem reasonably necessary to enable him to determine, in accordance with the provisions of G.S. 58-69-15, whether or not a license should be issued to the applicant.

(Authority G.S. 58-2-40; 58-69-10; 58-69-20(4), (5); Eff. February 1, 1976; Readopted Eff. January 1, 1978; Amended Eff. April 8, 2002.)

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