§ 26.1-11-05 — Deposit required of foreign accident and health insurance company doing business on assessment plan

business on assessment plan.
Each foreign accident and health insurance company doing business on the assessment
plan in this state shall keep deposited at all times with the commissioner one regular
assessment sufficient in amount to pay the average loss or losses occurring among its
members in this state during the time allowed by it for the collection of assessments and
payment of losses. No such company may be licensed by the commissioner unless it keeps and
maintains with the commissioner for the protection of persons to whom it may become obligated
at least ten thousand dollars in bonds of the United States, of the state of North Dakota, or of
political subdivisions within this state, or in mortgages on improved and unencumbered real
estate within this state worth double the sum loaned thereon and approved by the
commissioner.