\nAs used in this Article:\n(1) 'Attorney' means the person designated and authorized by subscribers as the attorney-in-fact having authority to obligate them on reciprocal and other insurance contracts.\n(2) 'License' means a license to transact the business of insurance in this State, issued by the Commissioner.\n(3) In addition to the meaning of the term as defined in G.S. 12-3(6) and G.S. 58-1-5(9), 'person' means any county, city, school board, hospital authority, or any other local governmental authority or local agency or public service corporation owned, operated or controlled by a local government or local government authority, that has the power to enter into contractual undertakings within or without the State.\n(4) 'Reciprocal' means an aggregation of subscribers under a common name.\n(5) 'Reciprocal insurance' means insurance resulting from the mutual exchange of insurance contracts among persons in an unincorporated association under a common name through an attorney-in-fact having authority to obligate each person both as insured and insurer.\n(6) 'Subscriber' means a person obligated under a reciprocal insurance agreement. (1989, c. 425, s. through an attorney-in-fact having authority to obligate each person both as insured and insurer.\n(6) 'Subscriber' means a person obligated under a reciprocal insurance agreement. (1989, c. 425, s. 1; 1991, c. 720, s. 15; 1999-132, s. 9.1.)
North Carolina Legal Code