GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 1999

H 	1 

HOUSE BILL 1696

Short Title:  Fire Ins. Public Protection/AB.	(Public)

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Sponsors: Representative Wainwright.

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Referred to:  Insurance, if favorable, Appropriations.

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May 25, 2000

A BILL TO BE ENTITLED
AN ACT TO CLARIFY THE AUTHORITY OF THE COMMISSIONER OF INSURANCE AND STATE FIRE MARSHAL TO ESTABLISH PUBLIC PROTECTION CLASSIFICATIONS FOR FIRE INSURANCE RATING PURPOSES AND TO APPROPRIATE FUNDS FOR THAT PURPOSE.
The General Assembly of North Carolina enacts:
Section 1.  G.S. 58-36-10(3) reads as rewritten:
"(3)	In the case of property insurance rates under this Article, consideration may be given to the experience of property insurance business during the most recent five-year period for which that experience is available. In the case of property insurance rates under this Article, consideration shall be given to the insurance public protection classifications of fire districts, which classifications shall be established and modified from time to time by the Commissioner. "
Section 2.  G.S. 58-40-25(4) reads as rewritten:
"(4)	In the case of property insurance rates under this Article, consideration shall be given to the insurance public protection classifications of fire districts, which classifications shall be established and modified from time to time by the Commissioner."
Section 3.  There is appropriated from the Department of Insurance Fund established in G.S. 58-6-25 to the Department of Insurance the sum of one hundred fifty thousand dollars ($150,000) for the 2000-2001 fiscal year for the expenses of establishing and modifying the insurance public protection classifications of fire districts as provided in G.S. 58-36-10(3) and G.S. 58-40-25(4).
Section 4.  This act becomes effective July 1, 2000.