1.Documents, materials, or other information, including the corporate governance annual
disclosure, in the possession or control of the insurance department which are
obtained by, created by, or disclosed to the commissioner or any other person under
this chapter, are recognized by this state as being proprietary and to contain trade
secrets. All documents, materials, or other information is confidential by law and
privileged, is not subject to section 44-04-18, is not subject to subpoena, and is not
subject to discovery or admissible in evidence in any private civil action. However, the
commissioner may use the documents, materials, or other information in the
furtherance of any regulatory or legal action brought as a part of the commissioner's
official duties. The commissioner may not o
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1. Documents, materials, or other information, including the corporate governance annual
disclosure, in the possession or control of the insurance department which are
obtained by, created by, or disclosed to the commissioner or any other person under
this chapter, are recognized by this state as being proprietary and to contain trade
secrets. All documents, materials, or other information is confidential by law and
privileged, is not subject to section 44-04-18, is not subject to subpoena, and is not
subject to discovery or admissible in evidence in any private civil action. However, the
commissioner may use the documents, materials, or other information in the
furtherance of any regulatory or legal action brought as a part of the commissioner's
official duties. The commissioner may not otherwise make the documents, materials,
or other information public without the prior written consent of the insurer. This section
may not be construed to require written consent of the insurer before the
commissioner may share or receive confidential documents, materials, or other
corporate governance annual disclosure-related information pursuant to subsection 3
to assist in the performance of the commissioner's regular duties.
2. Neither the commissioner nor any person that received documents, materials, or other
corporate governance annual disclosure-related information, through examination or
otherwise, while acting under the authority of the commissioner, or with which
documents, materials, or other information are shared pursuant to this chapter may be
permitted or required to testify in any private civil action concerning any confidential
documents, materials, or information subject to subsection 1.
3. In order to assist in the performance of the commissioner's regulatory duties, the
commissioner:
a. May, upon request, share documents, materials, or other corporate governance
annual disclosure-related information, including the confidential and privileged
documents, materials, or information subject to subsection 1, including
proprietary and trade secret documents and materials, with other state, federal,
and international financial regulatory agencies, including members of any
supervisory college as defined in section 26.1-10-06.1, with the national
association of insurance commissioners, and with third-party consultants
pursuant to section 26.1-10.3-06, if the recipient agrees in writing to maintain the
confidentiality and privileged status of the corporate governance annual
disclosure-related documents, materials, or other information and has verified in
writing the legal authority to maintain confidentiality; and
b. May receive documents, materials, or other corporate governance annual
disclosure-related information, including otherwise confidential and privileged
documents, materials, or information, including proprietary and trade secret
information or documents, from regulatory officials of other state, federal, and
international financial regulatory agencies, including members of any supervisory
college as defined in chapter 26.1-10, and from the national association of
insurance commissioners, and shall maintain as confidential or privileged any
documents, materials, or information received with notice or the understanding
that it is confidential or privileged under the laws of the jurisdiction that is the
source of the document, material, or information.
4. The sharing of information and documents by the commissioner pursuant to this
chapter does not constitute a delegation of regulatory authority or rulemaking, and the
commissioner is solely responsible for the administration, execution, and enforcement
of the provisions of this chapter.
5. A waiver of any applicable privilege or claim of confidentiality in the documents,
proprietary and trade secret materials, or other corporate governance annual
disclosure-related information does not occur as a result of disclosure of corporate
governance annual disclosure-related information or documents to the commissioner
under this section or as a result of sharing as authorized in this chapter.