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North Dakota Statutes, Title 26.1

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North Dakota/Statutes

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Title 26.1, Insurance

118 chapters · 1,589 sections in this title.

All chapters in Title 26.11,589 Ch 26.1-36, Accident and Health Insurance75 Ch 26.1-26, Insurance Producers and Consultants63 Ch 26.1-06.1, Insurance Company Rehabilitation and…59 Ch 26.1-33, Life Insurance46 Ch 26.1-02, General Provisions40 Ch 26.1-05, Organization and Operation of Domest…38 Ch 26.1-15.1, Fraternal Benefit Societies37 Ch 26.1-17, Nonprofit Health Service Corporations32 Ch 26.1-12, Incorporated Mutual Insurance Companies31 Ch 26.1-29, Insurance Contracts31 Ch 26.1-39, Property and Casualty Insurance31 Ch 26.1-40, Automobile Insurance and Warranties30 Ch 26.1-53.1, Discount Plans28 Ch 26.1-03, Examinations, Reports, and Tax27

12 sections·Filtered byTitle 26.1✕Ch 26.1-31.1✕

N.D.C.C. § 26.1-31.1-01 Definitions
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As used in this chapter: 1. "Actuary" means a person who is a member in good standing of the American academy of actuaries. 2. "Controlling person" means any person, firm, association, corporation, or limited liability company who directly or indirectly has the power to direct or…
N.D.C.C. § 26.1-31.1-02 Licensure
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1. No person, firm, association, or corporation may act as a reinsurance intermediary-broker in this state if the reinsurance intermediary-broker maintains an office either directly or as a member or employee of a firm or association, or an officer, director, or employee of a cor…
N.D.C.C. § 26.1-31.1-03 Required contract provisions - Reinsurance intermediary-brokers
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Transactions between a reinsurance intermediary-broker and the insurer it represents in such capacity may only be entered into, pursuant to a written authorization, specifying the responsibilities of each party. The authorization must, at a minimum, contain provisions that: 1. Th…
N.D.C.C. § 26.1-31.1-04 Books and records - Reinsurance intermediary-brokers
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1. For at least ten years after expiration of each contract of reinsurance transacted by the reinsurance intermediary-broker, the reinsurance intermediary-broker will keep a complete record for each transaction showing: a. The type of contract, limits, underwriting restrictions, …

N.D.C.C. § 26.1-31.1-05 Duties of insurers utilizing the services of reinsurance intermediary-broker

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1. An insurer may not engage the services of any person, firm, association, corporation, or limited liability company to act as a reinsurance intermediary-broker on its behalf unless the person, firm, association, corporation, or limited liability company is licensed as required …

N.D.C.C. § 26.1-31.1-06 Required contract provisions - Reinsurance intermediary-managers

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Transactions between a reinsurance intermediary-manager and the reinsurer it represents in that capacity may only be entered into pursuant to a written contract, approved by the reinsurer's board of directors, which specifies the responsibilities of each party. At least thirty da…

N.D.C.C. § 26.1-31.1-07 Prohibited acts

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The reinsurance intermediary-manager may not: 1. Bind retrocessions on behalf of the reinsurer, except that the reinsurance intermediary-manager may bind facultative retrocessions pursuant to obligatory facultative agreements if the contract with the reinsurer contains reinsuranc…

N.D.C.C. § 26.1-31.1-08 Duties of reinsurers utilizing the services of a reinsurance intermediary-manager

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1. A reinsurer may not engage the services of any person, firm, association, corporation, or limited liability company to act as a reinsurance intermediary-manager on its behalf unless such person, firm, association, corporation, or limited liability company is licensed as requir…

N.D.C.C. § 26.1-31.1-09 Examination authority

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1. A reinsurance intermediary is subject to examination by the commissioner. The commissioner shall have access to all books, bank accounts, and records of the reinsurance intermediary in a form usable to the commissioner. 2. A reinsurance intermediary-manager may be examined as …

N.D.C.C. § 26.1-31.1-10 Penalties and liabilities

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1. If the commissioner determines that the reinsurance intermediary 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 viola…

N.D.C.C. § 26.1-31.1-11 Rules

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The commissioner may adopt reasonable rules for the implementation and administration of the provisions of this chapter.

N.D.C.C. § 26.1-31.1-12 Effective date

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No insurer or reinsurer may continue to utilize the services of a reinsurance intermediary after July 7, 1991, unless utilization is in compliance with this chapter.