Title 26.1 — Insurance
118 chapters · 1,472 sections in this title.
N.D.C.C. § 26.1-09-01 Reciprocal or interinsurance exchange authorized
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Individuals, partnerships, and corporations of this state, in this chapter referred to as subscribers, may exchange reciprocal or interinsurance contracts other than life insurance, with each other or with individuals, partnerships, and corporations of other states and countries …
N.D.C.C. § 26.1-09-02 Domestic corporations have right to exchange contracts
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Any domestic corporation, in addition to the rights, powers, and franchises specified in its articles of incorporation, as a subscriber, may exchange insurance contracts of the kind and character mentioned in this chapter. The right to exchange the contracts is incidental to the …
N.D.C.C. § 26.1-09-03 Reciprocal or interinsurance contracts - Execution
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Reciprocal or interinsurance contracts may be executed by an attorney, insurance producer, or other representative, in this chapter designated as an attorney, duly authorized and acting for the subscribers. The attorney may be a corporation. The office of the attorney may be main…
N.D.C.C. § 26.1-09-04 Subscribers to file verified declaration with commissioner - Contents
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The subscribers contracting among themselves to conduct a reciprocal or interinsurance exchange through their attorney, shall file with the commissioner a declaration verified by the oath of the attorney, or when the attorney is a corporation, by the oath of a chief officer there…
N.D.C.C. § 26.1-09-05 Attorney to file statement authorizing suit and consenting to service
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Concurrently with the filing of the declaration provided for by section 26.1-09-04, the attorney shall file with the commissioner a written statement executed by the attorney for the subscribers conditioned that upon the issuance of the certificate of authority: 1. Civil actions …
N.D.C.C. § 26.1-09-06 Consent to service of process - Judgment - Satisfaction
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Service of process made upon the commissioner is valid and binding upon all subscribers at any time exchanging reciprocal or interinsurance contracts through the attorney filing the statement required under section 26.1-09-05. A judgment rendered in any case of the nature describ…
N.D.C.C. § 26.1-09-08 Required assets - Reserve fund
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As used in this section, "net premiums or deposits" means the advance payments by subscribers after deducting the amounts specifically provided for expenses in subscribers' agreements. Assets in cash or in securities authorized for investment of funds of insurance companies doing…
N.D.C.C. § 26.1-09-09 Annual report - Publication of annual statement - Examination
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The attorney, within the time limited for filing the annual report by insurance companies transacting the same kind of business, shall make a report to the commissioner for each calendar year showing the financial condition at the office where the contracts are issued, and shall …
N.D.C.C. § 26.1-09-10 Attorney's license fee and gross premium tax in lieu of other taxes
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The attorney, in lieu of all other state, county, or municipal fees and taxes of any and every character in this state, shall pay annually to the state, on account of the transaction of the reciprocal or interinsurance exchange business in this state, a license fee of fifteen dol…
N.D.C.C. § 26.1-09-12 Certificate of authority - Issuance - Renewal - Suspension and revocation
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Upon compliance with this chapter and the payment of the required fees and taxes, the commissioner shall issue a certificate of authority to the attorney in the name and title mentioned in section 26.1-09-04, to expire on the succeeding April thirtieth. The commissioner may suspe…
N.D.C.C. § 26.1-09-13 Solicitation without certificate of authority - Limitation
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For the purpose of organization, and upon the issuance of a permit by the commissioner, powers of attorney may be solicited without a license or certificate of authority, but an attorney, insurance producer, or other person may not effect any insurance contract under this chapter…
N.D.C.C. § 26.1-09-14 General insurance laws not applicable
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Except as otherwise provided in this chapter, no insurance law of this state applies to the exchange of indemnity contracts under this chapter unless the law specifically applies to the contracts.
N.D.C.C. § 26.1-09-15 Penalty
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Any attorney who exchanges any contract of indemnity of the kind and character specified in this chapter, and any attorney or representative of the attorney who solicits or negotiates any application for such contract without complying with this chapter, is guilty of a class B mi…