North Dakota § 26.1-05-26 Dividends on securities property of company

North Dakota Statutes

§ 26.1-05-26 — Dividends on securities property of company

North Dakota § 26.1-05-26

Title 26.1Insurance

Ch. 26.1-05Organization and Operation of Domestic Companies

This text of North Dakota § 26.1-05-26 (Dividends on securities property of 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 § 26.1-05-26 (2026).

Text

A domestic life insurance company having bonds or other securities on deposit with the
commissioner may collect the dividends or interest thereon upon delivering to its authorized
agent the coupons or other evidence of interest as the same becomes due. If any company,
however, fails to deposit additional securities when and as called for by the commissioner, or
pending any proceedings to close up or enjoin the operations of the company, the commissioner
shall collect the dividends or interest and add the same to the securities on deposit.

Free access — add to your briefcase to read the full text and ask questions with AI

A domestic life insurance company having bonds or other securities on deposit with the
commissioner may collect the dividends or interest thereon upon delivering to its authorized
agent the coupons or other evidence of interest as the same becomes due. If any company,
however, fails to deposit additional securities when and as called for by the commissioner, or
pending any proceedings to close up or enjoin the operations of the company, the commissioner
shall collect the dividends or interest and add the same to the securities on deposit.