NC S150

Requires motor vehicle insurers to provide written notice to lienholders of record at least 10 calendar days before terminating a motor vehicle liability insurance policy.

Notice to lienholder must be sent by first-class mail to the lienholder's last known address and must include a copy of the termination notice sent to the insured.

Failure to notify the lienholder does not affect the validity or effectiveness of the policy termination.

Adds definition of "lienholder" as a person who holds a perfected security interest in a motor vehicle at the time a policy is terminated.

Becomes effective October 1, 2017, and applies to all policy terminations on or after that date.