North Dakota Statutes
§ 26.1-24-08 — Security agreement to secure premium payment must be in separate instrument - Penalty
instrument - Penalty.
It is unlawful for any insurance company, or any insurance producer therefor within this
state, to take or procure to be taken upon the property to be insured, or upon any other property,
a security agreement securing the payment of the premium due or to become due, including
policy fees, or any part thereof, unless the security agreement is printed or written upon a paper
which is separate and distinct from the application. Any security agreement given in violation of
this section is void. Any insurance company violating this section is guilty of a class A
misdemeanor and forfeits its right to do business in this state.
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Nearby Sections
15
§ 26.1-01-01
Commissioner defined§ 26.1-01-03
Duties of commissioner§ 26.1-01-03.1
Cease and desist authority - Hearing - Failure to appear§ 26.1-01-03.2
Injunctive authority§ 26.1-01-03.3
Penalty for violation of title§ 26.1-01-04
Service of process upon commissioner - Procedure§ 26.1-01-06
Reporting of statistical data regarding legal malpractice claims, settlements, and judgments§ 26.1-01-07
Fees chargeable by commissioner§ 26.1-01-07.1
Insurance regulatory trust fund established§ 26.1-01-07.2
Insurance regulatory trust fund investment§ 26.1-01-07.3
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