Title 26.1 — Insurance
118 chapters · 1,472 sections in this title.
N.D.C.C. § 26.1-07-01 Domestic companies - Consolidation - Reinsurance
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As used in this chapter, "consolidate" includes consolidation and merger and "reinsurance" includes only those obligations ceded or assumed by an assumption agreement. An "assumption agreement" is one that transfers all of the direct insurer's obligations under policies of insura…
N.D.C.C. § 26.1-07-02 Petition for allowance of consolidation or reinsurance
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When any company described in section 26.1-07-01 proposes to consolidate with any other company, or to enter into any contract of reinsurance, it must file its petition with the commissioner setting forth the terms and conditions of the proposed consolidation or reinsurance contr…
N.D.C.C. § 26.1-07-03 Profit by officer or employee prohibited
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An officer of a company petitioning for the right to consolidate or to reinsure and an officer or employee of the state may not receive any compensation or gratuity, either directly or indirectly, for aiding, promoting, or in any manner assisting in the consolidation or reinsuran…
N.D.C.C. § 26.1-07-04 Notice of petition for consolidation or reinsurance
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When a petition is filed, the commissioner, within thirty days after filing of the petition, shall issue an order requiring notice by mail to each policyholder of the domestic company if any of its policyholders are being reinsured or it is proposing to consolidate with another c…
N.D.C.C. § 26.1-07-05 Commissioner to hear petition - General duties
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Repealed by S.L. 1995, ch. 280, § 5.
N.D.C.C. § 26.1-07-05.1 Hearing on petition - General duties of commissioner
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The commissioner shall hold a hearing on the petition and determine whether the consolidation or reinsurance will be allowed. The hearing must be conducted under chapter 28-32. Within sixty days of the close of the hearing, the commissioner shall enter findings of fact, conclusio…
N.D.C.C. § 26.1-07-07 Expenses paid by petitioner
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All actual expenses and costs incident to proceedings under this chapter must be paid by the company filing the petition. An itemized statement of the expenses and costs must be filed with the commissioner with a certified copy of the decision of the commissioner.
N.D.C.C. § 26.1-07-08 Insurance companies subject to dissolution provisions
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Repealed by S.L. 1991, ch. 305, § 14. 26.1-07-09. Grounds upon which commissioner may petition for dissolution of company - Representation by attorney general. Repealed by S.L. 1991, ch. 305, § 14. 26.1-07-10. Petition for dissolution of company when officer refuses to give infor…
N.D.C.C. § 26.1-07-11 Preliminary hearing on petition - Transfer of proceedings - Bond
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Repealed by S.L. 1991, ch. 305, § 14. 26.1-07-12. Injunction against transaction of business - Procedure - Operation of company. Repealed by S.L. 1991, ch. 305, § 14.
N.D.C.C. § 26.1-07-13 Commissioner to be appointed receiver
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Repealed by S.L. 1991, ch. 305, § 14. 26.1-07-14. Court may order liquidation of company - Commissioner to direct liquidation - Procedure. Repealed by S.L. 1991, ch. 305, § 14. 26.1-07-15. Commissioner may appoint special deputies and employ counsel in receivership proceedings - …
N.D.C.C. § 26.1-07-16 Offset - Limitations
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Repealed by S.L. 1991, ch. 305, § 14.
N.D.C.C. § 26.1-07-17 Priority of distribution of assets
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Repealed by S.L. 1991, ch. 305, § 14. 26.1-07-18. Powers and duties of commissioner and deputies in receivership proceedings - Assessments - Actions. Repealed by S.L. 1991, ch. 305, § 14.
N.D.C.C. § 26.1-07-19 Receiver may not increase liabilities of company - Exception
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Repealed by S.L. 1991, ch. 305, § 14.
N.D.C.C. § 26.1-07-20 Report of dissolutions and receivership made by commissioner
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Repealed by S.L. 1991, ch. 305, § 14.
N.D.C.C. § 26.1-07-21 Penalty
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Any officer, director, or stockholder of any company, or any officer or employee of the state, who violates, or consents to the violation of, this chapter is guilty of a class A misdemeanor.