NC H16

Repeals outdated insurance reporting requirements in G.S. 58-2-170, including requirements for statements on policies issued and premiums received.

Modifies G.S. 58-2-165(b) to remove references to the repealed section while maintaining the Commissioner's authority to require electronic data processing formats for financial statements.

Repeals reporting requirements in G.S. 58-36-3(c), G.S. 58-40-130(e), G.S. 58-50-95, G.S. 58-3-191(a) and (b1), and G.S. 58-67-140(a)(7) as recommended by the Department of Insurance.

Exempts audited financial statements prepared by certified public accountants and submitted by town or county mutuals from electronic data processing format requirements.

Effective upon enactment; ratified June 11, 2015.