North Dakota § 26.1-10.3-07 Sanctions

North Dakota Statutes

§ 26.1-10.3-07 — Sanctions

North Dakota § 26.1-10.3-07

Title 26.1Insurance

Ch. 26.1-10.3Corporate Governance Annual Disclosure

This text of North Dakota § 26.1-10.3-07 (Sanctions) 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 § 26.1-10.3-07 (2026).

Text

Any insurer failing, without just cause, to timely file the corporate governance annual
disclosure as required in this chapter is required, after notice and hearing, to pay a penalty of
five hundred dollars for each day's delay, to be recovered by the commissioner and the penalty
so recovered shall be paid into the general fund. The maximum penalty under this section is one
hundred thousand dollars. The commissioner may reduce the penalty if the insurer
demonstrates to the commissioner that the imposition of the penalty would constitute a financial
hardship to the insurer.

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Any insurer failing, without just cause, to timely file the corporate governance annual
disclosure as required in this chapter is required, after notice and hearing, to pay a penalty of
five hundred dollars for each day's delay, to be recovered by the commissioner and the penalty
so recovered shall be paid into the general fund. The maximum penalty under this section is one
hundred thousand dollars. The commissioner may reduce the penalty if the insurer
demonstrates to the commissioner that the imposition of the penalty would constitute a financial
hardship to the insurer.