™Your Policy Risk Impact Agent
118 chapters · 1,589 sections in this title.
N.D.C.C. § 26.1-07-01 Domestic companies - Consolidation - Reinsurance
0.7K chars
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
0.5K chars
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
0.3K chars
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
0.8K chars
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…
