§ 26.1-20-06 — Judgment against corporation - Enforcement

North Dakota § 26.1-20-06

• Jurisdiction: North Dakota
• Title 26.1: Insurance
• Ch. 26.1-20: Title Insurance Companies

Text

If a corporation fails to satisfy any judgment against it arising out of its liability under any title
insurance policy, issued, insured, or assumed by it, within thirty days after the finality of the
judgment becomes fixed, the judgment may be enforced against its guaranty fund deposit
through the following procedure:
1. The judgment creditor shall petition the court wherein the judgment is entered and as
part of the same cause, truthfully setting forth the facts regarding the failure to satisfy
the judgment as required by this section.
2. Upon the petition the court shall direct the issuance of a special execution directed to
the sheriff of Burleigh County, requiring that the sheriff sell so much of the securities on
deposit as may be required to satisfy the judgment and pay the costs of the levy.
3. The special execution must be executed by the sheriff by delivering to the state
treasurer and to the commissioner a certified copy of the writ of execution together
with a certified copy of the judgment and of the petition and order, and within ten days
thereafter there must be delivered to the sheriff sufficient securities to satisfy the
judgment in full. The sheriff shall sell the securities upon execution as in the case of
sales of personal property upon execution generally.