§ 26.1-05-02 — Organization of domestic stock company - Number of persons required - Authorized lines

Authorized lines.
Any number of persons not less than seven may form a corporation on the stock plan to
carry on one or more of the following lines of insurance:
1. Life and annuity means insurance coverage on human lives, including benefits of
endowment, annuities, and credit life.
2. Accident and health means insurance coverage for sickness, disease, injury,
accidental death, and disability.
3. Property means insurance coverage for direct and consequential loss of or damage to
property of every kind.
4. Casualty means insurance coverage against legal liability, including that for death,
injury, or disability or damage to real or personal property.
5. Variable life and annuity means insurance coverage provided under variable life
insurance contracts, variable annuities, or any other life insurance or annuity that
reflects the investment experience of a separate account.
A stock insurance company incorporated under this chapter may carry the lines of insurance
mentioned in this section which have been expressed in its articles of incorporation.