North Dakota § 26.1-03-01 Limitation on risks acceptable by company

North Dakota Statutes

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

North Dakota § 26.1-03-01

Title 26.1Insurance

Ch. 26.1-03Examinations, Reports, and Tax

This text of North Dakota § 26.1-03-01 (Limitation on risks acceptable by company) is published on Counsel Stack Legal Research, covering North Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.D. Cent. Code § 26.1-03-01 (2026).

Text

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.

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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.