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STATE EX REL. LONG v. AMERICAN SEC. LIFE ASSURANCE CO.

No. 9210SC130.

428 S.E.2d 200 (1993)

109 N.C. App. 530

STATE of North Carolina, on relation of James E. LONG, Commissioner of Insurance of North Carolina v. AMERICAN SECURITY LIFE ASSURANCE COMPANY OF NORTH CAROLINA.

Court of Appeals of North Carolina.

April 6, 1993.

Attorney(s) appearing for the Case

Atty. Gen. Lacy H. Thornburg by Associate Atty. Gen. Anita LeVeaux Quigless, Raleigh, for petitioner.

Hatch, Little & Bunn by David H. Permar and Michelle Bradshaw, Raleigh, for respondent.

Hunton & Williams by William S. Patterson, Raleigh, for the North Carolina Life and Health Ins. Guar. Ass'n, amicus curiae.

WYNN, Judge.

The American Security Life Assurance Company of North Carolina ("ASLAC") is an insurance company licensed and incorporated under the laws of North Carolina. It is a wholly owned subsidiary of the American Security Life Assurance Company of Florida ("ASLAC-Florida"), which in turn is a wholly owned subsidiary of Rebuilding Services, Inc. ("RSI").

In 1990, the North Carolina Department of Insurance ("DOI") conducted a routine audit of ASLAC at its...

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