§ 26.1-09-04 — Subscribers to file verified declaration with commissioner - Contents

The subscribers contracting among themselves to conduct a reciprocal or interinsurance
exchange through their attorney, shall file with the commissioner a declaration verified by the
oath of the attorney, or when the attorney is a corporation, by the oath of a chief officer thereof,
setting forth:
1. The name of the attorney and the name or designation under which contracts are
issued. The name or designation may not be so similar to any name or designation
adopted by any attorney or any insurance organization in the United States which was
writing the same class of insurance prior to the adoption of the name or designation as
to confuse or deceive.
2. The kind or kinds of insurance to be effected or exchanged.
3. A copy of the form of policy, contract, or agreement under or by which such insurance
is to be effected or exchanged.
4. A copy of the form of the power of attorney or other authority of the attorney under
which the insurance is to be effected or exchanged.
5. The location of the office from which the contracts or agreements are to be issued.
6. That applications have been made for indemnity upon at least one hundred separate
risks aggregating not less than one million five hundred thousand dollars as
represented by executed contracts or bona fide applications to become concurrently
effective.
7. That assets conforming to section 26.1-09-08 are in the possession of the attorney
and are available for payment of losses.