North Dakota § 26.1-03-19.5 Conflict of interest

North Dakota Statutes

§ 26.1-03-19.5 — Conflict of interest

North Dakota § 26.1-03-19.5

Title 26.1Insurance

Ch. 26.1-03Examinations, Reports, and Tax

This text of North Dakota § 26.1-03-19.5 (Conflict of interest) 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 § 26.1-03-19.5 (2026).

Text

No examiner may be appointed by the commissioner if the examiner, either directly or indirectly, has a conflict of interest or is affiliated with the management of or owns a pecuniary interest in any person subject to examination under this chapter. This section must not be construed to automatically preclude an examiner from being:

1.A policyholder or claimant under an insurance policy.

2.A grantor of a mortgage or similar instrument on the examiner's residence to a regulated entity if done under customary terms and in the ordinary course of business.

3.An investment owner in shares of regulated diversified investment companies.

4.A settlor or beneficiary of a "blind trust" into which any otherwise impermissible holdings have been placed. Notwithstanding the requirements of this secti

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No examiner may be appointed by the commissioner if the examiner, either directly or
indirectly, has a conflict of interest or is affiliated with the management of or owns a pecuniary
interest in any person subject to examination under this chapter. This section must not be
construed to automatically preclude an examiner from being:
1. A policyholder or claimant under an insurance policy.
2. A grantor of a mortgage or similar instrument on the examiner's residence to a
regulated entity if done under customary terms and in the ordinary course of business.
3. An investment owner in shares of regulated diversified investment companies.
4. A settlor or beneficiary of a "blind trust" into which any otherwise impermissible
holdings have been placed.
Notwithstanding the requirements of this section, the commissioner may retain from time to
time, on an individual basis, qualified actuaries, certified public accountants, or other similar
individuals who are independently practicing their professions, even though said persons may
from time to time be similarly employed or retained by persons subject to examination under this
chapter.