GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 1997

S	Simple
Resolution
Adopted

SENATE RESOLUTION 1605
Adopted 10/1/98

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Sponsors: Senators Lucas, Gulley; Albertson, Ballance, Ballantine, Basnight, Blust, Carpenter, Carrington, Clark, Cochrane, Dalton, Dannelly, East, Forrester, Foxx, Garwood, Hartsell, Horton, Jenkins, Jordan, Kinnaird, Ledbetter, Lee, Martin of Pitt, Martin of Guilford, McDaniel, Miller, Moore, Odom, Page, Perdue, Phillips, Plyler, Purcell, Rand, Reeves, Rucho, Shaw of Cumberland, Soles, Warren, Webster, and Wellons.

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Referred to:  

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October 1, 1998

A SENATE RESOLUTION HONORING THE ONE HUNDREDTH ANNIVERSARY OF NORTH CAROLINA MUTUAL LIFE INSURANCE COMPANY, ONE OF NORTH CAROLINA'S GREATEST INSTITUTIONS.
Whereas, North Carolina Mutual and Provident Association was founded on October 20, 1898, by a group of seven prominent African-Americans: John Merrick, Dr. Aaron McDuffie Moore, Dr. James E. Shepard, William G. Pearson, Edward A. Johnson, D.T. Watson, and N.C. Bruce; and
Whereas, North Carolina Mutual and Provident Association was chartered by the General Assembly on February 28, 1899, largely due to the efforts of Senator Thomas Oscar Fuller, North Carolina's only African-American senator at that time and the sponsor of the legislation; and
Whereas, North Carolina Mutual and Provident Association began selling burial insurance in April of 1899; and
Whereas, by 1903, North Carolina Mutual and Provident Association hired its first full-time insurance agents and produced its first publication, The North Carolina Mutual, a newspaper that kept the community informed about the Association; and
Whereas, in 1919, North Carolina Mutual and Provident Association's charter was amended, changing its name to North Carolina Mutual Life Insurance Company; and
Whereas, North Carolina Mutual Life Insurance Company is the oldest and largest African-American life insurance company in the United States and the oldest life insurance company in North Carolina; and
Whereas, North Carolina Mutual Life Insurance Company is licensed to operate in 21 states and the District of Columbia and has district and branch offices in 10 states and the District of Columbia; and
Whereas, with more than nine billion dollars of insurance in force, North Carolina Mutual Life Insurance Company is ranked approximately 175 of the approximately 1,800 life insurance companies in the United States; and
Whereas, in 1986, NCM Capital Management Group, Inc., was formed to expand the company's presence in the financial arena to diversify its business and investment combinations; and
Whereas, during its 100 years of business, North Carolina Mutual Life Insurance Company has been led by only eight presidents: John Merrick, Dr. Aaron McDuffie Moore, Charles C. Spaulding, William Kennedy Jr., Asa T. Spaulding, Joseph W. Goodloe, William Kennedy III, and Bert Collins; and
Whereas, since its beginning, North Carolina Mutual Life Insurance Company has used its resources to support civic and social organizations throughout Durham and North Carolina; and
Whereas, it is only fitting that North Carolina Mutual Life Insurance Company be commended for its 100 years of continuous operation; Now, therefore,
Be it resolved by the Senate:
Section 1.  The Senate congratulates North Carolina Mutual Insurance Company on its one hundred year anniversary and commends the company for its continued commitment to the City of Durham.
Section 2.  The Principal Clerk shall transmit a certified copy of this resolution to the President of North Carolina Mutual Insurance Company.
Section 3.  This resolution is effective upon adoption.