North Dakota § 26.1-12-20 Separate reserves to be maintained for each kind of insurance written by mutual insurance company

North Dakota Statutes

§ 26.1-12-20 — Separate reserves to be maintained for each kind of insurance written by mutual insurance company

North Dakota·Title 26.1 Insurance·Ch. 26.1-12 Incorporated Mutual Insurance Companies

mutual insurance company.
Every mutual insurance company organized under this chapter shall maintain unearned
premium and other reserves separately for each kind of insurance written by it upon the same
basis as is required of a domestic stock insurance company transacting the same kind of
insurance business. Any reserve for losses or claims based upon the premium income,
however, must be computed upon the net premium income after deducting any so-called
dividend or premium returned or credited to the member.

Free access — add to your briefcase to read the full text and ask questions with AI

mutual insurance company.
Every mutual insurance company organized under this chapter shall maintain unearned
premium and other reserves separately for each kind of insurance written by it upon the same
basis as is required of a domestic stock insurance company transacting the same kind of
insurance business. Any reserve for losses or claims based upon the premium income,
however, must be computed upon the net premium income after deducting any so-called
dividend or premium returned or credited to the member.

North Dakota § 26.1-12-20 (Separate reserves to be maintained for each kind of insurance written by mutual insurance company) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.