North Dakota § 26.1-14-15 Optional membership in insurance guaranty association

North Dakota Statutes

§ 26.1-14-15 — Optional membership in insurance guaranty association

North Dakota·Title 26.1 Insurance·Ch. 26.1-14 Medical Malpractice Insurance

The company may not be a member insurer under chapter 26.1-42.1 unless the board of
directors by appropriate resolution, certified to and filed with the commissioner on or before
December thirty-first following the issuance of its certificate of authority, elects to become a
member. If there is an affirmative election, the company becomes a member of the insurance
guaranty association effective July first of the following year. The election is irrevocable. In
absence of a timely election, no policyholder, claimant, or creditor of the company may receive
any payment by the insurance guaranty association.

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The company may not be a member insurer under chapter 26.1-42.1 unless the board of
directors by appropriate resolution, certified to and filed with the commissioner on or before
December thirty-first following the issuance of its certificate of authority, elects to become a
member. If there is an affirmative election, the company becomes a member of the insurance
guaranty association effective July first of the following year. The election is irrevocable. In
absence of a timely election, no policyholder, claimant, or creditor of the company may receive
any payment by the insurance guaranty association.

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