A BILL TO BE ENTITLED
AN ACT to provide that certain conditions placed on exclusive agency contracts for the sale of life insurance OR financial services are unfair methods of competition and unfair or deceptive trade practices.
The General Assembly of North Carolina enacts:
SECTION 1.  G.S. 58‑63‑15 is amended by adding a new subdivision to read:
"(14)	Sale of Life Insurance or Financial Services. – Requiring nonemployee, exclusive agents who have exclusive agency contracts or agreements with an insurer as of January 1, 2002, to sell either (i) a specified number of life and health insurance policies in relation to the sale of property and casualty insurance or (ii) a specific level of financial services, as a condition of continuing the exclusive agency contract or agreement. This subdivision does not apply to insurance agents who do not offer property or casualty lines of insurance."
SECTION 2.  This act becomes effective October 1, 2003.