North Dakota § 26.1-06.1-21 Notice to creditors and others

North Dakota Statutes

§ 26.1-06.1-21 — Notice to creditors and others

North Dakota § 26.1-06.1-21

Title 26.1Insurance

Ch. 26.1-06.1Insurance Company Rehabilitation and Liquidation

This text of North Dakota § 26.1-06.1-21 (Notice to creditors and others) 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 § 26.1-06.1-21 (2026).

Text

1.Unless the court otherwise directs, the liquidator shall give or cause to be given notice of the liquidation order as soon as possible:

a.By first-class mail and either by telegram or telephone to the insurance commissioner of each jurisdiction in which the insurer is doing business;

b.By first-class mail to any guaranty association or foreign guaranty association which is or may become obligated as a result of the liquidation;

c.By first-class mail to all insurance producers of the insurer;

d.By first-class mail to all persons known or reasonably expected to have claims against the insurer including all policyholders, at their last-known address as indicated by the records of the insurer; and

e.By publication in a newspaper of general circulation in the county in which the insure

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1. Unless the court otherwise directs, the liquidator shall give or cause to be given notice
of the liquidation order as soon as possible:
a. By first-class mail and either by telegram or telephone to the insurance
commissioner of each jurisdiction in which the insurer is doing business;
b. By first-class mail to any guaranty association or foreign guaranty association
which is or may become obligated as a result of the liquidation;
c. By first-class mail to all insurance producers of the insurer;
d. By first-class mail to all persons known or reasonably expected to have claims
against the insurer including all policyholders, at their last-known address as
indicated by the records of the insurer; and

e. By publication in a newspaper of general circulation in the county in which the
insurer has its principal place of business and in such other locations as the
liquidator deems appropriate.
2. Except as otherwise established by the liquidator with approval of the court, notice to
potential claimants under subsection 1 shall require claimants to file with the liquidator
their claims together with proper proofs thereof under section 26.1-06.1-35, on or
before a date the liquidator shall specify in the notice. The liquidator need not require
persons claiming cash surrender values or other investment values in life insurance
and annuities to file a claim. All claimants shall have a duty to keep the liquidator
informed of any changes of address.
3. a. Notice under subsection 1 to insurance producers of the insurer and to potential
claimants who are policyholders must include, when applicable, notice that
coverage by state guaranty associations may be available for all or part of policy
benefits in accordance with applicable state guaranty laws.
b. The liquidator shall promptly provide to the guaranty associations any information
concerning the identities and addresses of the policyholders and their policy
coverages in the liquidator's possession or control, and otherwise cooperate with
guaranty associations to assist them in providing to the policyholders timely
notice of the guaranty associations' coverage of policy benefits, including, as
applicable, coverage of claims and continuation or termination of coverages.
4. If notice is given in accordance with this section, the distribution of assets of the
insurer under this chapter shall be conclusive with respect to all claimants, whether or
not they received notice.