Title 26.1 — Insurance
118 chapters · 1,472 sections in this title.
N.D.C.C. § 26.1-46-01 Definitions
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As used in this chapter: 1. "Commissioner" means the North Dakota insurance commissioner or the commissioner, director, or superintendent of insurance in any other state. 2. "Completed operations liability" means liability arising out of the installation, maintenance, or repair o…
N.D.C.C. § 26.1-46-02 Risk retention groups chartered in this state
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A risk retention group seeking to be chartered in this state must be chartered and licensed as a liability insurance company authorized by the insurance laws of this state and, except as provided elsewhere in this chapter, shall comply with all of the laws, rules, regulations, an…
N.D.C.C. § 26.1-46-04 Compulsory associations
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1. No risk retention group may join or contribute financially to any insurance insolvency guaranty fund, or similar mechanism, in this state, nor may any risk retention group, or its insureds, receive any benefit from any such fund for claims arising out of the operations of such…
N.D.C.C. § 26.1-46-05 Countersignatures not required
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A policy of insurance issued to a risk retention group or any member of that group may not be required to be countersigned except as otherwise provided in section 26.1-11-07. 26.1-46-06. Purchasing groups - Exemption from certain laws relating to the group purchase of insurance. …
N.D.C.C. § 26.1-46-07 Notice and registration requirements of purchasing groups
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1. A purchasing group which intends to do business in this state shall, prior to doing business, furnish notice to the commissioner on forms prescribed by the national association of insurance commissioners which must do all of the following: a. Identify the state in which the gr…
N.D.C.C. § 26.1-46-08 Restrictions on insurance purchased by purchasing groups
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1. A purchasing group may not purchase insurance from a risk retention group that is not chartered in a state or from an insurer not admitted in the state in which the purchasing group is located, unless the purchase is effected through a licensed insurance producer acting pursua…
N.D.C.C. § 26.1-46-08.1 Purchasing group taxation - Fees
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1. a. Premium taxes and taxes on premiums paid for coverage of risks resident or located in this state by a purchasing group or any members of the purchasing group must be: (1) Imposed at the same rate and subject to the same interest, fines, and penalties as applicable to premiu…
N.D.C.C. § 26.1-46-10 Penalties
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A risk retention group which violates any provision of this chapter is subject to fines and penalties applicable to licensed insurers generally, including revocation of its certificate of authority to do business in this state.
N.D.C.C. § 26.1-46-11 Duty of insurance producers to obtain license
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Any person acting, or offering to act, as an insurance producer for a risk retention group or purchasing group, which solicits members, sells insurance coverage, purchases coverage for its members located within the state, or otherwise does business in this state, shall, before c…
N.D.C.C. § 26.1-46-12 Binding effect of orders issued in United States district court
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An order issued by any district court of the United States enjoining a risk retention group from soliciting or selling insurance, or operating, in any state or in all states or in any territory or possession of the United States upon a finding that such a group is in a hazardous …
N.D.C.C. § 26.1-46-13 Rules and regulations
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The commissioner may adopt such rules relating to risk retention groups as may be necessary or desirable to carry out the provisions of the chapter.