§ 26.1-03-11 — Fire companies to report statistical data - Failure to report - Exceptions to reporting requirements - Penalty

reporting requirements - Penalty.
Each insurance company issuing fire insurance policies covering property in this state
annually shall report information setting forth the amount of earned premiums in this state for
policies covering insured property located in this state and the amount of claims incurred. This
information is not to include personal lines or farm property insurance. This information must be
reported on a form prescribed by the commissioner. The form must accompany the annual
statement required under section 26.1-03-07. An insurance company that fails to furnish the
form on or before March first is subject to a penalty of one hundred dollars per day. The
commissioner may revoke or suspend the certificate of authority of an insurance company that
fails to file the form required in this section. If satisfied the delay was excusable, the insurance
commissioner may waive, and if paid, issue a premium tax credit in an amount up to fifty
percent of the penalty. The insurance commissioner shall deposit in the insurance tax
distribution fund monetary penalties collected under this section.