A North Carolina licensee decides in 2026 to stop doing business in the State. What notice must it give the Commissioner before ceasing operations?
Correct Answer
C) Notify the Commissioner in writing at least 15 days before cessation
A licensee or registrant shall notify the Commissioner in writing of its decision to cease operations in this State, and the anticipated effective date of the cessation, at least 15 days before the cessation. Other choices: the notice runs ahead of the event; it is 15 days rather than 30; and a written notice is required alongside anything done in the system. Source: 04 NCAC 03M .0403(a)
Why This Is the Correct Answer
A licensee or registrant shall notify the Commissioner in writing of its decision to cease operations in this State, and the anticipated effective date of the cessation, at least 15 days before the cessation. Other choices: the notice runs ahead of the event; it is 15 days rather than 30; and a written notice is required alongside anything done in the system. Source: 04 NCAC 03M .0403(a)
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