Title 26.1 — Insurance
118 chapters · 1,472 sections in this title.
N.D.C.C. § 26.1-50-01 Definitions
0.5K chars
As used in this chapter: 1. "Fund" means the North Dakota low-risk incentive fund. 2. "Governing board" means the board of directors of the corporation or board of governors of the limited liability company established under section 26.1-50-02. 3. "Insurer" means any foreign or d…
N.D.C.C. § 26.1-50-02 Establishment - Organization
0.7K chars
Any insurer or group of insurers may establish a corporation or limited liability company to own and operate the North Dakota low-risk incentive fund. Except as provided in this chapter, all authority regarding the articles of incorporation or articles of organization is the prov…
N.D.C.C. § 26.1-50-03 North Dakota low-risk incentive fund use
0.8K chars
The fund may be used only for making loans to low-risk businesses for primary sector business projects in this state. A loan may not be approved or made by the fund without some participation in the loan by the Bank of North Dakota. A loan from the fund may not be made to an insu…
N.D.C.C. § 26.1-50-04 Loan administration
1.0K chars
An application for a loan from the fund must contain the information prescribed by the governing board. Except as provided in this section, information contained in applications for loans from the fund is confidential. The Bank of North Dakota shall review each loan application, …
N.D.C.C. § 26.1-50-05 Audited financial statement - Report of fund operations
0.7K chars
The governing board shall contract annually with a certified public accountant for performance of an audit and preparation of audited financial statements of the fund prepared in accordance with generally accepted accounting principles and a report containing an analysis of the i…
N.D.C.C. § 26.1-50-06 Tax credit
1.7K chars
If the requirements of this chapter are met, an insurer is entitled to a credit against taxes due under section 26.1-03-17 or 26.1-11-06 as determined under this section. If the insurer is a member of an insurance holding company system, the insurer or any affiliate insurer is en…
N.D.C.C. § 26.1-50-07 Assets of insurers
0.3K chars
The amount of a loan made by an insurer or the amount of an insurer's participation in a loan made under this chapter may not be considered or reported on the insurer's annual statement as an admitted asset except to the extent provided under section 26.1-05-19.