Title 26.1 — Insurance
118 chapters · 1,472 sections in this title.
N.D.C.C. § 26.1-26.3-01 Definitions
1.9K chars
As used in this chapter: 1. "Actuary" means a person who is a member in good standing of the American academy of actuaries. 2. "Insurer" means any person, firm, association, or corporation duly licensed in this state as an insurance company pursuant to this title. 3. "Managing ge…
N.D.C.C. § 26.1-26.3-02 Licensure
1.0K chars
1. No individual, partnership, corporation, or limited liability company may act in the capacity of a managing general agent with respect to risks located in this state for an insurer licensed in this state unless the individual, partnership, corporation, or limited liability com…
N.D.C.C. § 26.1-26.3-03 Required contract provisions
5.6K chars
No individual, partnership, corporation, or limited liability company acting in the capacity of a managing general agent may place business with an insurer unless there is in force a written contract between the parties which sets forth the responsibilities of each party and when…
N.D.C.C. § 26.1-26.3-04 Duties of insurers
2.2K chars
1. The insurer shall have on file, in a form acceptable to the commissioner, an independent financial examination of each managing general agent with which it has done business. 2. If a managing general agent establishes loss reserves, the insurer shall annually obtain the opinio…
N.D.C.C. § 26.1-26.3-05 Examination authority
0.2K chars
The acts of the managing general agent are considered to be the acts of the insurer on whose behalf it is acting. A managing general agent may be examined as if it were the insurer.
N.D.C.C. § 26.1-26.3-06 Penalties and liabilities
1.7K chars
1. If the commissioner determines that the managing general agent or any other person has not materially complied with this chapter or any rule or order adopted under this chapter, after notice and opportunity to be heard, the commissioner may order: a. For each separate violatio…
N.D.C.C. § 26.1-26.3-07 Rules
0.1K chars
The insurance commissioner may adopt reasonable rules for the implementation and administration of the provisions of this chapter.