§ 26.1-11-07 — Countersignature requirement - Commissions - Reciprocity

North Dakota § 26.1-11-07

• Jurisdiction: North Dakota
• Title 26.1: Insurance
• Ch. 26.1-11: Foreign Insurance Companies

Text

Notwithstanding any other provision of this title or policy forms to the contrary, there may not
be any requirement that an insurance producer resident in this state sign or countersign an
insurance policy covering a subject of insurance resident, located, or to be performed in this
state. However, if the laws or rules of another state require a signature or countersignature by
an insurance producer resident in that state on an insurance policy written by a nonresident
insurance producer of that state, then any insurance policy written by an insurance producer
resident of that state licensed as a nonresident insurance producer in this state covering a
subject of insurance resident, located, or to be performed in this state must be signed or
countersigned in writing by an insurance producer resident in this state. An insurance policy
may not be deemed invalid because of the absence of the required signature or
countersignature. If the laws or rules of another state require an insurance producer resident in
that state to retain a portion of the commission paid on a like insurance policy written,
countersigned, or delivered by the insurance producer in that state at the request of a

nonresident insurance producer of that state, then the insurance producer resident in this state
who signed or countersigned an insurance policy written by a resident of that state licensed as a
nonresident insurance producer in this state covering a subject of insurance resident, located, or
to be performed in this state shall retain an equal pro rata portion of any commission on the
insurance policy.