Title 26.1 — Insurance
118 chapters · 1,472 sections in this title.
N.D.C.C. § 26.1-03.1-01 Definitions
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As used in this chapter: 1. "Adjusted risk-based capital report" means a risk-based capital report that has been adjusted by the commissioner in accordance with subsection 5 of section 26.1-03.1-02. 2. "Corrective order" means an order issued by the commissioner specifying correc…
N.D.C.C. § 26.1-03.1-02 Risk-based capital reports
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1. On or prior to each March first, every domestic insurer shall prepare and submit to the commissioner a report of its risk-based capital levels as of the end of the calendar year just ended, in a form and containing any information required by the risk-based capital instruction…
N.D.C.C. § 26.1-03.1-03 Company action level event
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1. "Company action level event" means any of the following events: a. The filing of a risk-based capital report by an insurer which indicates that: (1) The insurer's total adjusted capital is greater than or equal to its regulatory action level risk-based capital but less than it…
N.D.C.C. § 26.1-03.1-04 Regulatory action level event
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1. "Regulatory action level event" means, with respect to any insurer, any of the following events: a. The filing of a risk-based capital report by the insurer that indicates that the insurer's total adjusted capital is greater than or equal to its authorized control level risk-b…
N.D.C.C. § 26.1-03.1-05 Authorized control level event
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1. "Authorized control level event" means any of the following events: a. The filing of a risk-based capital report by the insurer that indicates that the insurer's total adjusted capital is greater than or equal to its mandatory control level risk-based capital but less than its…
N.D.C.C. § 26.1-03.1-06 Mandatory control level event
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1. "Mandatory control level event" means any of the following events: a. The filing of a risk-based capital report that indicates that the insurer's total adjusted capital is less than its mandatory control level risk-based capital; b. Notification by the commissioner to the insu…
N.D.C.C. § 26.1-03.1-07 Hearings
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Upon any of the following, the insurer has the right to a confidential departmental hearing, on a record, at which the insurer may challenge any determination or action by the commissioner. The insurer shall notify the commissioner of the request for a hearing within five days af…
N.D.C.C. § 26.1-03.1-09 Supplemental provisions - Rules - Exemption
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1. This chapter is supplemental to any other laws of this state, and does not preclude or limit any other powers or duties of the commissioner under these laws, including chapters 26.1-06.1 and 26.1-06.2. 2. The commissioner may adopt rules necessary for the implementation of thi…
N.D.C.C. § 26.1-03.1-10 Foreign insurers
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1. Upon the written request of the commissioner, any foreign insurer shall submit to the commissioner a risk-based capital report as of the end of the calendar year just ended, the later of: a. The date a risk-based capital report would be required to be filed by a domestic insur…
N.D.C.C. § 26.1-03.1-11 Immunity
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There is no liability on the part of, and no cause of action may arise against, the commissioner or the insurance department or its employees or agents for any action taken by them in the performance of their powers and duties under this chapter.
N.D.C.C. § 26.1-03.1-12 Notices
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All notices by the commissioner to an insurer that may result in regulatory action hereunder are effective upon dispatch if transmitted by registered mail, or in the case of any other transmission is effective upon the insurer's receipt of the notice.
N.D.C.C. § 26.1-03.1-13 Phasein provision
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1. For risk-based capital reports required to be filed by life insurers with respect to 1993, the following requirements apply in lieu of the provisions of sections 26.1-03.1-03, 26.1-03.1-04, 26.1-03.1-05, and 26.1-03.1-06: a. In the event of a company action level event with re…