North Dakota § 26.1-06.1-36 Special claims

North Dakota Statutes

§ 26.1-06.1-36 — Special claims

North Dakota § 26.1-06.1-36

Title 26.1Insurance

Ch. 26.1-06.1Insurance Company Rehabilitation and Liquidation

This text of North Dakota § 26.1-06.1-36 (Special 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 § 26.1-06.1-36 (2026).

Text

1.The claim of a third party which is contingent only on first obtaining a judgment against the insured must be considered and allowed as if there were no such contingency.

2.A claim may be allowed even if contingent, if it is filed in accordance with section 26.1-06.1-34. It may be allowed and may participate in all distributions declared after it is filed to the extent that it does not prejudice the orderly administration of the liquidation.

3.Claims that are due except for the passage of time must be treated as absolute claims are treated, except that such claims may be discounted at the legal rate of interest.

4.Claims made under employment contracts by directors, principal officers, or persons in fact performing similar functions or having similar powers are limited to payment fo

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1. The claim of a third party which is contingent only on first obtaining a judgment against
the insured must be considered and allowed as if there were no such contingency.
2. A claim may be allowed even if contingent, if it is filed in accordance with section
26.1-06.1-34. It may be allowed and may participate in all distributions declared after it
is filed to the extent that it does not prejudice the orderly administration of the
liquidation.
3. Claims that are due except for the passage of time must be treated as absolute claims
are treated, except that such claims may be discounted at the legal rate of interest.

4. Claims made under employment contracts by directors, principal officers, or persons in
fact performing similar functions or having similar powers are limited to payment for
services rendered prior to the issuance of any order of rehabilitation or liquidation
under section 26.1-06.1-12 or 26.1-06.1-17.