Insurance Commissioner Established

Insurance Commissioner Established. The Insurance Commissioner of the Commonwealth shall be the Director of Banking until such time as the legislature, at the recommendation of the Insurance Commissioner pursuant to 4 CMC § 7112, creates a separate office or position. No bond shall be required of the Director of Banking in order to serve as Insurance Commissioner; however the commissioner may not act as broker, agent, solicitor, officer, employee or representative of any insurance business, nor have any financial interest therein except as a policy holder. Source: PL 3-107, § 4.