Title 26.1 — Insurance
118 chapters · 1,472 sections in this title.
N.D.C.C. § 26.1-10-01 Definitions
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As used in this chapter, unless the context or subject matter otherwise requires: 1. "Affiliate" means a person that directly, or indirectly through one or more intermediaries, controls, or is under the control of, or is under common control with, the person specified. 2. "Contro…
N.D.C.C. § 26.1-10-02 Subsidiaries of insurers
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1. Any domestic insurer, either by itself or in cooperation with one or more persons, may organize or acquire one or more subsidiaries. A subsidiary may conduct any kind of business and its authority to do so is not limited because it is a subsidiary of a domestic insurer. 2. In …
N.D.C.C. § 26.1-10-03 Acquisition of control of or merger with domestic insurer - Penalties
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1. a. A person other than the issuer may not make a tender offer for or a request or invitation for tenders of, or enter into any agreement to exchange securities for, seek to acquire, or acquire, in the open market or otherwise, any voting security of a domestic insurer if, afte…
N.D.C.C. § 26.1-10-03.1 Acquisitions involving insurers not otherwise covered
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1. For the purpose of this section: a. "Acquisition" means any agreement, arrangement, or activity the consummation of which results in a person acquiring directly or indirectly the control of another person, and includes the acquisition of voting securities, the acquisition of a…
N.D.C.C. § 26.1-10-04 Registration of insurers
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1. Every insurer that is authorized to do business in this state and which is a member of an insurance holding company system shall register with the commissioner, except a foreign insurer subject to registration requirements and standards adopted by statute or rule in the jurisd…
N.D.C.C. § 26.1-10-05.1 Dividends and other distribution
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1. The board of directors of any company subject to this chapter may declare and the company may pay dividends and other distributions on its outstanding shares and cash, property, or its own shares and on its treasury stock in its own shares, subject to the following provisions:…
N.D.C.C. § 26.1-10-06 Examination
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1. Subject to the limitations contained in this section and in addition to the powers which the commissioner has relating to the examination of insurers, the commissioner may examine any insurer registered under section 26.1-10-04 and the insurer's affiliates to ascertain the fin…
N.D.C.C. § 26.1-10-06.1 Supervisory colleges
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1. With respect to any insurer registered under section 26.1-10-04, and in accordance with subsection 3, the commissioner may participate in a supervisory college for any domestic insurer that is part of an insurance holding company system with international operations to determi…
N.D.C.C. § 26.1-10-06.2 Groupwide supervision of internationally active insurance groups
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1. a. The commissioner may act as the groupwide supervisor for any internationally active insurance group in accordance with this section. However, the commissioner may otherwise acknowledge another regulatory official as the groupwide supervisor if the internationally active ins…
N.D.C.C. § 26.1-10-07 Confidential treatment
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1. Any document, material, or other information in the possession or control of the North Dakota insurance department which is obtained by or disclosed to the commissioner or any other person in the course of an examination or investigation made pursuant to section 26.1-10-06 and…
N.D.C.C. § 26.1-10-09 Revocation, suspension, and nonrenewal of license
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Whenever it appears to the commissioner that any person has committed a violation of this chapter which makes the continued operation of an insurer contrary to the interests of policyholders or the public, the commissioner, after giving notice and an opportunity to be heard, may …
N.D.C.C. § 26.1-10-10 Receivership
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Whenever it appears to the commissioner that any person has committed a violation of this chapter which so impairs the financial condition of a domestic insurer as to threaten insolvency or make the further transaction of business by it hazardous to its policyholders, creditors, …
N.D.C.C. § 26.1-10-10.1 Recovery
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1. If an order for liquidation or rehabilitation of a domestic insurer has been entered, the receiver appointed under the order may recover on behalf of the insurer: a. From any parent corporation or holding company or person or affiliate that otherwise controlled the insurer, th…
N.D.C.C. § 26.1-10-11 Penalty
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1. Any insurer failing, without just cause, to file any registration statement as required in this chapter must be required, after notice and hearing, to pay a penalty of one hundred dollars for each day's delay. The commissioner may reduce the penalty if the insurer demonstrates…
N.D.C.C. § 26.1-10-12 Rulemaking
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The commissioner may adopt rules and issue orders necessary to carry out this chapter.
N.D.C.C. § 26.1-10-13 Judicial review - Mandamus
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1. Any person aggrieved by any act, determination, rule, order, or any other action of the commissioner under this chapter may appeal to the district court for Burleigh County. The court shall conduct the review without a jury and by trial de novo, except if all parties, includin…