§ 26.1-07-04 — Notice of petition for consolidation or reinsurance

When a petition is filed, the commissioner, within thirty days after filing of the petition, shall
issue an order requiring notice by mail to each policyholder of the domestic company if any of its
policyholders are being reinsured or it is proposing to consolidate with another company, of the
pendency of the petition and of the time when and place where a hearing on the petition will be
held. The hearing must be scheduled not more than ninety days from the date of the order. The
commissioner shall publish the order of notice and the petition in five newspapers, one of which
must be a daily newspaper published at the state capital, at least two weeks before the hearing
upon the petition. By mutual agreement between the petitioning company and the
commissioner, the time frame set forth in this section may be modified, changed, or extended.