This text of North Dakota § 26.1-12.2-08 (Effective date of plan of conversion) 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.
A plan of conversion is effective when the commissioner has approved the plan of
conversion, the voting members have approved the plan of conversion and adopted the
certificate of incorporation of the converted stock company, and the certificate of incorporation is
filed in the office of the secretary of state of this state.
26.1-12.2-09. Rights of members whose policies are issued after adoption of the plan
of conversion and before effective date.
1.All members whose policies are issued after the proposed plan of conversion has
been adopted by the governing body and before the effective date of the plan of
conversion must be sent a written notice regarding the plan of conversion upon
issuance of such policy.
2.Except as provided in subsection 3, each member of a property or casualty ins
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A plan of conversion is effective when the commissioner has approved the plan of
conversion, the voting members have approved the plan of conversion and adopted the
certificate of incorporation of the converted stock company, and the certificate of incorporation is
filed in the office of the secretary of state of this state.
26.1-12.2-09. Rights of members whose policies are issued after adoption of the plan
of conversion and before effective date.
1. All members whose policies are issued after the proposed plan of conversion has
been adopted by the governing body and before the effective date of the plan of
conversion must be sent a written notice regarding the plan of conversion upon
issuance of such policy.
2. Except as provided in subsection 3, each member of a property or casualty insurance
company entitled to receive the notice provided for in subsection 1 must be advised of
the member's right of cancellation and to a pro rata refund of unearned premiums.
3. A member of a property or casualty insurance company who has made or filed a claim
under such member's insurance policy is not entitled to any right to receive any refund
under subsection 2. A person that has exercised the rights provided by subsection 2 is
not entitled to make or file any claim under such person's insurance policy.