§ 26.1-03-01 — Limitation on risks acceptable by company

An insurance company transacting an insurance business in this state may not expose itself
to loss on any one risk or hazard to an amount exceeding ten percent of its paid-up capital and
surplus if a stock company, or ten percent of its surplus if a mutual company, unless the excess
is reinsured. An insurance company offering group or individual insurance that is subject to the
lifetime or annual benefit limit restrictions of the Patient Protection and Affordable Care
Act [Pub. L. 111-148], as amended by the Health Care and Education Reconciliation Act of 2010
[Pub. L. 111-152], is not subject to this section.