North Dakota § 26.1-05-07.3 Conversion to foreign insurer

North Dakota Statutes

§ 26.1-05-07.3 — Conversion to foreign insurer

North Dakota § 26.1-05-07.3

Title 26.1Insurance

Ch. 26.1-05Organization and Operation of Domestic Companies

This text of North Dakota § 26.1-05-07.3 (Conversion to foreign insurer) 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 § 26.1-05-07.3 (2026).

Text

A domestic insurer, upon the approval of the commissioner, may transfer its domicile to
another state in which it is admitted to transact the business of insurance. Upon transfer, the
insurer ceases to be a domestic insurer and, if qualified, may be admitted to this state as a
foreign insurer. The commissioner shall approve a proposed transfer unless the commissioner
determines the transfer is not in the interests of the policyholders of the state.

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A domestic insurer, upon the approval of the commissioner, may transfer its domicile to
another state in which it is admitted to transact the business of insurance. Upon transfer, the
insurer ceases to be a domestic insurer and, if qualified, may be admitted to this state as a
foreign insurer. The commissioner shall approve a proposed transfer unless the commissioner
determines the transfer is not in the interests of the policyholders of the state.