Title 26.1 — Insurance

1. This section provides coverage for the policies and contracts specified in subsection 2: a. To persons, except for nonresident certificate holders under group policies or contracts, who, regardless of where they reside, are the beneficiaries, assignees, or payees, including he…

As used in this chapter: 1. "Account" means either of the two accounts created under section 26.1-38.1-03. 2. "Association" means the North Dakota life and health insurance guaranty association created under section 26.1-38.1-03. 3. "Authorized assessment" or the term "authorized…

1. There is created a nonprofit legal entity to be known as the North Dakota life and health insurance guaranty association. All member insurers must be and remain members of the association as a condition of their authority to transact insurance or a health maintenance organizat…

1. The board of directors of the association shall consist of not less than five nor more than nine member insurers serving terms as established in the plan of operation. The insurer members of the board must be selected by member insurers, subject to the approval of the commissi…

1. If a member insurer is an impaired insurer, the association may, in its discretion, and subject to any conditions imposed by the association that do not impair the contractual obligations of the impaired insurer, and that are approved by the commissioner: a. Guarantee, assume,…

1. For the purpose of providing the funds necessary to carry out the powers and duties of the association, the board of directors shall assess the member insurers, separately for each account, at such time and for such amounts as the board finds necessary. Assessments must be due…

1. The association shall submit to the commissioner a plan of operation and any amendments thereto necessary or suitable to assure the fair, reasonable, and equitable administration of the association. The plan of operation and any amendments thereto become effective upon the com…

In addition to the duties and powers enumerated elsewhere in this chapter: 1. The commissioner shall: a. Upon request of the board of directors, provide the association with a statement of premiums in this and any other appropriate states for each member insurer; b. When an impai…

1. To aid in the detection and prevention of member insurer insolvencies or impairments, it is the duty of the commissioner: a. To notify the commissioners of all the other states, territories of the United States, and the District of Columbia when the commissioner takes any of t…

1. A member insurer may offset against its premium tax liability to this state an assessment described in section 26.1-38.1-06 to the extent of twenty percent of the amount of such assessment for each of the five calendar years following the year in which such assessment was paid…

1. This chapter does not reduce the liability for unpaid assessments of the insured of an impaired or insolvent insurer operating under a plan with assessment liability. 2. Records must be kept of all meetings of the board of directors to discuss the activities of the association…

The association is subject to examination and regulation by the commissioner. The board of directors shall submit to the commissioner each year, not later than one hundred twenty days after the association's fiscal year, a financial report in a form approved by the commissioner a…

The association is exempt from payment of all fees and all taxes levied by this state or any of its subdivisions, except taxes levied on real property.

There is no liability on the part of and no cause of action of any nature may arise against any member insurer or its agents or employees, the association or its agents or employees, members of the board of directors, or the commissioner or the commissioner's representatives, for…

All proceedings in which the insolvent insurer is a party in any court in this state must be stayed one hundred eighty days from the date an order of liquidation, rehabilitation, or conservation is final to permit proper legal action by the association on any matters germane to i…

Repealed by S.L. 2019, ch. 244, § 14.