State ex rel. Commissioner of Insurance v. North Carolina Fire Insurance Rating Bureau

HUSKINS, Justice.

We first turn to the contention of the Rating Bureau that the proposed rates were “deemed” approved under G.S. 58-131.1 upon failure of the Commissioner, in writing, to disapprove the rates within 60 days after submission.

G.S. 58-131.1, codified from Chapter 380 of the 1945 Session Laws, reads as follows:

“No rating method, schedule, classification, underwriting rule, bylaw, or regulation shall become effective or be applied by the Rating Bureau until it shall have been first submitted to and approved by the Commissioner. Provided, that a rate or premium used or charged in…