North Dakota § 26.1-12.1-10 Applicability of certain provisions

North Dakota Statutes

§ 26.1-12.1-10 — Applicability of certain provisions

North Dakota § 26.1-12.1-10

Title 26.1Insurance

Ch. 26.1-12.1Mutual Insurance Company Reorganization

This text of North Dakota § 26.1-12.1-10 (Applicability of certain provisions) 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 § 26.1-12.1-10 (2026).

Text

A mutual insurance holding company is deemed to be an insurer subject to
chapter 26.1-06.1 and is automatically a mandatory party to any proceeding under that chapter
involving an insurance company that, as a result of a reorganization according to
section 26.1-12.1-02 or 26.1-12.1-03, is a subsidiary of the mutual insurance holding company.
In any proceeding under chapter 26.1-06.1 involving the reorganized insurance company, the
assets of the mutual insurance holding company are considered to be the assets of the estate of
the reorganized insurance company for purposes of satisfying the claims of the reorganized
insurance company's policyholders. A mutual insurance holding company may not dissolve or
liquidate without the approval of the commissioner or as ordered by the district court a

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A mutual insurance holding company is deemed to be an insurer subject to
chapter 26.1-06.1 and is automatically a mandatory party to any proceeding under that chapter
involving an insurance company that, as a result of a reorganization according to
section 26.1-12.1-02 or 26.1-12.1-03, is a subsidiary of the mutual insurance holding company.
In any proceeding under chapter 26.1-06.1 involving the reorganized insurance company, the
assets of the mutual insurance holding company are considered to be the assets of the estate of
the reorganized insurance company for purposes of satisfying the claims of the reorganized
insurance company's policyholders. A mutual insurance holding company may not dissolve or
liquidate without the approval of the commissioner or as ordered by the district court according
to chapter 26.1-06.1. Chapter 26.1-12.2 is not applicable to a reorganization or merger
accomplished under this chapter.