North Carolina Premium Finance Company Bonds

A Premium Finance Company Surety Bond is required pursuant to NCGS 58-35-15 for those who have applied to the Commissioner of Insurance of the State of North Carolina for a license to undertake the business of financing insurance premiums pursuant to Section 58-35-5 of the General Statutes of the State of North Carolina. This surety bond ensures that the bonded principal fully complies with the provisions of the laws of the State of North Carolina and the rules and regulations set out by the Commissioner of Insurance pertaining to Insurance Premium Finance Companies. The surety bond runs continuously beginning on the date the license becomes effective, remaining in force until the surety cancels the bond upon 30 days advance written notice to the Commissioner and the principal.