North Dakota § 26.1-06.1-34 Filing of claims

North Dakota Statutes

§ 26.1-06.1-34 — Filing of claims

North Dakota § 26.1-06.1-34

Title 26.1Insurance

Ch. 26.1-06.1Insurance Company Rehabilitation and Liquidation

This text of North Dakota § 26.1-06.1-34 (Filing of claims) 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 § 26.1-06.1-34 (2026).

Text

1.Proof of all claims must be filed with the liquidator in the form required by section 26.1-06.1-35 on or before the last day for filing specified in the notice required under section 26.1-06.1-21, except that proof of claims for cash surrender values or other investment values in life insurance and annuities need not be filed unless the liquidator expressly so requires.

2.The liquidator may permit a claimant making a late filing to share in distributions, whether past or future, as if the claimant did not file late, to the extent that any such payment will not prejudice the orderly administration of the liquidation, under any of the following circumstances:

a.The existence of the claim was not known to the claimant and the claim was filed promptly once the claim became known to the cl

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1. Proof of all claims must be filed with the liquidator in the form required by section
26.1-06.1-35 on or before the last day for filing specified in the notice required under
section 26.1-06.1-21, except that proof of claims for cash surrender values or other
investment values in life insurance and annuities need not be filed unless the liquidator
expressly so requires.
2. The liquidator may permit a claimant making a late filing to share in distributions,
whether past or future, as if the claimant did not file late, to the extent that any such
payment will not prejudice the orderly administration of the liquidation, under any of the
following circumstances:
a. The existence of the claim was not known to the claimant and the claim was filed
promptly once the claim became known to the claimant.

b. A transfer to a creditor was avoided under sections 26.1-06.1-25, 26.1-06.1-26,
and 26.1-06.1-27, or was voluntarily surrendered under section 26.1-06.1-28, and
the filing satisfies the conditions of section 26.1-06.1-28.
c. The valuation under section 26.1-06.1-40, of security held by a secured creditor
shows a deficiency, which is filed within thirty days after the valuation.
3. The liquidator shall permit late filing claims to share in distribution, whether past or
future, as if the claims were not filed late, if the claims are claims of a guaranty
association or foreign guaranty association for reimbursement of covered claims paid
or expenses incurred, or both, subsequent to the last day for filing when such
payments were made and expenses incurred as provided by law.
4. The liquidator may consider any claim filed late which is not covered by subsection 2,
and permit it to receive distributions which are subsequently declared on any claims of
the same or lower priority if the payment does not prejudice the orderly administration
of the liquidation. The late filing claimant shall receive, at each distribution, the same
percentage of the amount allowed on the late filed claim as is then being paid to
claimants of any lower priority. This must continue until the late filed claim has been
paid in full.