§ 26.1-06.1-06 — Cooperation of officers, owners, and employees - Penalty

North Dakota § 26.1-06.1-06

• Jurisdiction: North Dakota
• Title 26.1: Insurance
• Ch. 26.1-06.1: Insurance Company Rehabilitation and Liquidation

Text

1. Any officer, manager, director, trustee, owner, employee, or agent of any insurer, or
any other persons with authority over or in charge of any segment of the insurer's
affairs, shall cooperate with the commissioner in any proceeding under this chapter, or
any investigation preliminary to the proceeding. The term "person" as used in this
section includes any person who exercises control directly or indirectly over activities
of the insurer through any holding company or other affiliate of the insurer. "To
cooperate" includes the following:
a. To reply promptly in writing to any inquiry from the commissioner requesting a
reply;
b. To make available to the commissioner any books, accounts, documents, or other
records or information or property of or pertaining to the insurer and in
possession, custody, or control of that person; and
c. To be available for oral statements and interviews by the commissioner if so
requested.
2. No person may obstruct or interfere with the commissioner in the conduct of any
delinquency proceeding or any investigation preliminary or incidental thereto.

3. Any person included within subsection 1 who fails to cooperate with the commissioner,
or any person who obstructs or interferes with the commissioner in the conduct of any
delinquency proceeding or any investigation preliminary or incidental thereto, or who
violates any valid order issued by the commissioner under this chapter is guilty of a
class A misdemeanor and, after a hearing, may be subject to the imposition by the
commissioner of a civil penalty not to exceed ten thousand dollars and may be subject
further to the revocation or suspension of any insurance licenses issued by the
commissioner.