Title 26.1 — Insurance
118 chapters · 1,472 sections in this title.
N.D.C.C. § 26.1-13-01 County mutual insurance company - Organization
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A corporation for mutual insurance may be formed in accordance with this chapter by any number of persons, not less than fifty, residing in not more than forty counties in this state, which collectively own property of not less than four hundred thousand dollars in value which th…
N.D.C.C. § 26.1-13-03 County mutual company has perpetual existence
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Every county mutual insurance company has perpetual existence. If the articles of incorporation of any company show that the existence of the company is other than perpetual, the articles may be amended in the manner provided by law so as to extend the term of existence of the co…
N.D.C.C. § 26.1-13-04 Certificate of compliance
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After articles of incorporation have been approved and filed, the commissioner shall deliver to the persons filing the articles a certificate to the effect that the county mutual insurance company has complied with all of the requirements of law. The certificate constitutes the a…
N.D.C.C. § 26.1-13-05 Bylaws - Contents
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A county mutual insurance company may make bylaws, not inconsistent with the constitution or laws of this state, necessary to provide for the management of the company's affairs in accordance with this chapter and to prescribe the duties of the company's officers. Bylaws may be r…
N.D.C.C. § 26.1-13-06 Amendment of articles or bylaws
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The articles of incorporation of a county mutual insurance company may be amended, and its bylaws adopted, amended, or repealed, at any annual meeting of the company, or at any special meeting called for that purpose, by the affirmative vote of two-thirds of the members voting on…
N.D.C.C. § 26.1-13-07 Directors - Number - Election - Powers and duties
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The general management of the business of a county mutual insurance company must be vested in a board of directors consisting of no fewer than five members nor more than fifteen members. The members of the board must be elected by the members of the company at the annual meeting …
N.D.C.C. § 26.1-13-08 Officers - Election - Bond
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The board of directors shall elect a president and a vice president from the board and shall select a secretary and a treasurer who may or may not be members of the company. The offices of secretary and of treasurer may be held by one person. The secretary and the treasurer shall…
N.D.C.C. § 26.1-13-10 Members of county mutual company - Policyholders - Notice of meetings
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Every person insured by a county mutual insurance company is a member while the policy is in force. The member is entitled to one vote per policy only and must be notified of the time and place of the holding of the meetings of the company by written notice or by an imprint on th…
N.D.C.C. § 26.1-13-11 Annual meeting - Quorum
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The annual meeting of a county mutual insurance company must be held following notice of a prescribed date, time, and place unless notice is provided otherwise in the bylaws of the company. Twenty members constitute a quorum for the transaction of business at an annual meeting. 2…
N.D.C.C. § 26.1-13-13 Applicability of general insurance laws
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In all respects not specifically provided for in this chapter, county mutual insurance companies are subject to the provisions of this title relating to insurance companies generally.
N.D.C.C. § 26.1-13-14 County mutual company - Insurance authority
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A county mutual insurance company may insure against loss or damage by fire; lightning; cyclone; windstorm; tornado; hail, except upon growing crops; any insured hazard upon livestock; explosion, except the explosion of steam boilers and flywheels; riot; riot attending a strike; …
N.D.C.C. § 26.1-13-16 Liability insurance contracts - Limitations
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Any county mutual insurance company may make insurance contracts against loss, expense, or liability by reason of bodily injury or death by accident, disability, sickness, or disease suffered by others for which the insured may be liable or may have assumed liability, except no l…
N.D.C.C. § 26.1-13-17 Classification of property for insurance purposes
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A county mutual insurance company may classify the property insured by the policies at the time of issuance under different rates corresponding, as nearly as may be, to the greater or lesser risk from fire or lightning and loss which may attach to each of the buildings insured.
N.D.C.C. § 26.1-13-18 Maximum amount of insurance on single risk
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The maximum amount of insurance which a county mutual insurance company may retain on a single risk other than under a liability insurance contract, after deduction of applicable reinsurance, may not exceed ten percent of the admitted assets of the company or thirty thousand doll…
N.D.C.C. § 26.1-13-19 Reinsurance of excessive losses
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Upon approval by the commissioner, any county mutual insurance company may reinsure in a single contract, with other county mutual insurance companies, against excessive losses on all insurance contracts written.
N.D.C.C. § 26.1-13-20 Designation of attorney in fact - Assessments
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Repealed by S.L. 2019, ch. 236, § 16.
N.D.C.C. § 26.1-13-21 Supervision by commissioner
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The commissioner has full power of supervision over all reinsurance contracts executed under section 26.1-13-19. 26.1-13-22. Insured to give undertaking to pay pro rata share of losses - Cash payment or premium required. Repealed by S.L. 2019, ch. 236, § 16. 26.1-13-23. Loss - No…
N.D.C.C. § 26.1-13-24 Assessments for payment of losses and expenses
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Repealed by S.L. 2019, ch. 236, § 16. 26.1-13-25. Permanent expense and loss fund - Assessment or premiums - Delinquent loss assessments credited. Repealed by S.L. 2019, ch. 236, § 16.
N.D.C.C. § 26.1-13-26 Notice of assessment - Extension of time of payment of assessment
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Repealed by S.L. 2019, ch. 236, § 16. 26.1-13-27. Collection of assessments - Suits against directors - Suits against company to recover losses. Repealed by S.L. 2019, ch. 236, § 16.
N.D.C.C. § 26.1-13-28 Borrowing of money authorized
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The board of directors of a county mutual insurance company, in the board's discretion, may borrow money for the payment of unpaid losses.
N.D.C.C. § 26.1-13-29 Withdrawal from membership
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Any member of a county mutual insurance company may withdraw from membership at any time while the company continues to transact the business for which the company was organized if, by withdrawal, the number of members remaining in the company will not be reduced below the origin…
N.D.C.C. § 26.1-13-30 Cancellation of policies
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A county mutual insurance company at any time may terminate or cancel any policy issued by it by giving the insured not less than five days' written notice of the termination or cancellation of the policy and returning to the insured pro rata any unearned premium which the insure…
N.D.C.C. § 26.1-13-34 Annual statement to be furnished to members of county mutual company
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The secretary of each county mutual insurance company formed under this chapter shall prepare and submit to the members of the company, at each annual meeting, a copy of the annual statement required to be filed with the commissioner under section 26.1-03-07.
N.D.C.C. § 26.1-13-35 County mutual insurance company - Reports to commissioner
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Each county mutual insurance company shall file an annual report with the commissioner no later than March first of each year which must be verified by at least two principal officers of the company and which must cover the preceding calendar year. The commissioner may require ad…