North Dakota § 26.1-10-06.1 Supervisory colleges

North Dakota Statutes

§ 26.1-10-06.1 — Supervisory colleges

North Dakota § 26.1-10-06.1

Title 26.1Insurance

Ch. 26.1-10Insurance Holding Company Systems

This text of North Dakota § 26.1-10-06.1 (Supervisory colleges) 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 § 26.1-10-06.1 (2026).

Text

1.With respect to any insurer registered under section 26.1-10-04, and in accordance with subsection 3, the commissioner may participate in a supervisory college for any domestic insurer that is part of an insurance holding company system with international operations to determine compliance by the insurer with this chapter. The powers of the commissioner with respect to a supervisory college include:

a.Initiating the establishment of a supervisory college;

b.Clarifying the membership and participation of other supervisors in the supervisory college;

c.Clarifying the functions of the supervisory college and the role of other regulators, including the establishment of a groupwide supervisor;

d.Coordinating the ongoing activities of the supervisory college, including planning meetings,

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1. With respect to any insurer registered under section 26.1-10-04, and in accordance
with subsection 3, the commissioner may participate in a supervisory college for any

domestic insurer that is part of an insurance holding company system with
international operations to determine compliance by the insurer with this chapter. The
powers of the commissioner with respect to a supervisory college include:
a. Initiating the establishment of a supervisory college;
b. Clarifying the membership and participation of other supervisors in the
supervisory college;
c. Clarifying the functions of the supervisory college and the role of other regulators,
including the establishment of a groupwide supervisor;
d. Coordinating the ongoing activities of the supervisory college, including planning
meetings, supervisory activities, and establishing processes for information
sharing; and
e. Establishing a crisis management plan.
2. Each registered insurer subject to this section shall pay the reasonable expenses of
the commissioner's participation in a supervisory college in accordance with
subsection 3, including reasonable travel expenses. For purposes of this section, a
supervisory college may be convened as either a temporary or permanent forum for
communication and cooperation between the regulators charged with the supervision
of the insurer or the insurer's affiliates, and the commissioner may establish a regular
assessment to the insurer for the payment of expenses.
3. To assess the business strategy, financial position, legal and regulatory position, risk
exposure, risk management, and governance processes, and as part of the
examination of an individual insurer in accordance with section 26.1-10-06, the
commissioner may participate in a supervisory college with other regulators charged
with supervision of the insurer or the insurer's affiliates, including other state, federal,
and international regulatory agencies. The commissioner may enter an agreement in
accordance with subsection 3 of section 26.1-10-07 providing the basis for cooperation
between the commissioner and the other regulatory agencies, and the activities of the
supervisory college. This section does not delegate to the supervisory college the
authority of the commissioner to regulate or supervise the insurer or the insurer's
affiliates within the commissioner's jurisdiction.