NORTH CAROLINA GENERAL ASSEMBLY

1973 SESSION

 

 

CHAPTER 456

SENATE BILL 172

 

 

AN ACT TO MAINTAIN THE SAME AUTOMOBILE LIABILITY INSURANCE RATE WHEN INSURANCE IS CHANGED FROM ONE VEHICLE TO ANOTHER AFTER AN INCREASE IN RATES.

 

The General Assembly of North Carolina enacts:

 

Section 1.  When coverage under an existing automobile liability insurance policy is transferred from one automobile to another after the approval of a rate increase by the Commissioner, the rate for the policy shall not be increased during the remainder of the contract period. Nothing contained herein shall prevent an increase in rates for a change in classification when the risk or underwriting information on a particular policyholder warrants such a change.

Sec. 2.  This act shall become effective upon ratification.

In the General Assembly read three times and ratified, this the 11th day of May, 1973.