Title 26.1 — Insurance

An insurance company transacting an insurance business in this state may not expose itself to loss on any one risk or hazard to an amount exceeding ten percent of its paid-up capital and surplus if a stock company, or ten percent of its surplus if a mutual company, unless the exc…

Repealed by S.L. 1993, ch. 292, § 49.

1. All securities and investments of insurance companies must be valued in accordance with published valuation standards of the national association of insurance commissioners including the accounting practices and procedure manuals and publications by the valuation of securities…

Cooperative or assessment life associations must be admitted to transact business in this state upon compliance with the provisions of this title relating to the licensing and admission of life insurance companies without being required to value their policies in conformity with …

Every cooperative or assessment life association authorized to do business in this state shall accumulate and maintain assets in excess of actual liabilities for death losses sustained and expenses incurred equal to two percent of all insurance which the association has in force.…

Any life insurance company doing business in this state may accumulate and maintain, in addition to the capital and surplus contributed by its stockholders and in addition to an amount equal to the net values of its policies computed according to the laws of the jurisdiction unde…

Every insurance company doing business in this state shall transmit to the commissioner, not later than March first of each year, a statement of its condition and business for the year ending on the preceding December thirty-first. If March first falls on a Saturday or legal holi…

A receiver of an insurance company doing business in this state, on or before June thirtieth of each year, and at any other time, when required to do so by the commissioner, shall make and file a statement of the assets and liabilities of the company and of the income and expendi…

An insurance company, at the time it submits its annual statement for filing, shall submit an abstract of the annual statement for publication on the form prescribed by the commissioner. The abstract of the annual statement of each company, other than a state or county mutual ins…

The commissioner shall maintain, as confidential, any confidential documents or information received from the national association of insurance commissioners or state, federal, or international regulatory or law enforcement officials of this state and other states or jurisdiction…

1. The commissioner may require a foreign or domestic insurance company to annually file a market conduct annual statement. The statement must: a. Be filed with the commissioner, or with the commissioner's designee, on a date specified by the commissioner; b. Include the scope of…

Repealed by S.L. 2003, ch. 245, § 4.

Repealed by S.L. 2003, ch. 245, § 4.

Repealed by S.L. 2003, ch. 245, § 4.

Repealed by S.L. 2003, ch. 245, § 4.

Any insurance company doing business in this state which neglects to make and file any statement in the manner and within the time prescribed in this chapter forfeits one hundred dollars for each day's neglect, and upon notice by the commissioner to that effect, its authority to …

Repealed by S.L. 1993, ch. 292, § 49.

In sections 26.1-03-19.1 through 26.1-03-19.8, unless the context otherwise requires: 1. "Company" means any foreign or domestic insurance company as defined in section 26.1-02-01. 2. "Data call" means an inquiry addressed to a company issued before, or in lieu of an examination …

1. The commissioner or any of the commissioner's examiners may conduct an examination under this chapter of any company whenever the commissioner in the commissioner's sole discretion deems appropriate but shall at a minimum, conduct an examination of every insurer licensed in th…

1. Upon determining that an examination should be conducted, the commissioner or the commissioner's designee shall issue a letter appointing one or more examiners to perform the examination and instructing them as to the scope of the examination. In conducting the examination, th…

1. All examination reports must be comprised of only facts appearing upon the books, records, or other documents of the company, its agents, or other persons examined, or as ascertained from the testimony of its officers or agents or other persons examined concerning its affairs,…

No examiner may be appointed by the commissioner if the examiner, either directly or indirectly, has a conflict of interest or is affiliated with the management of or owns a pecuniary interest in any person subject to examination under this chapter. This section must not be const…

For purposes of any examination authorized or required by law, the company being examined shall pay the same charge for the examination as is provided in section 26.1-01-07 for an official examination. The compensation to be paid to the employees of the commissioner is to be paid…

1. No cause of action arises, nor may any liability be imposed, against the commissioner, the commissioner's authorized representatives, or any examiner appointed by the commissioner for any statements made or conduct performed in good faith while carrying out the provisions of t…

1. The commissioner or the commissioner's designated representative may issue a data call under this chapter whenever the commissioner deems it appropriate. The insurance company shall reply in writing to the data call within twenty days of receipt of the inquiry unless within th…

Repealed by S.L. 1993, ch. 292, § 49.

If the commissioner is a director, officer, agent, attorney, or stockholder of, or is interested directly in, any insurance company except as an insured, the state auditor or a person appointed by the state auditor shall examine the company. No officer or agent of any insurance c…