This text of North Dakota § 26.1-25-10.1 (Licensing advisory organizations) 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.
1. No advisory organization may provide any service relating to the rates of any
insurance subject to this chapter, and no insurer may utilize the services of such
organization for such purposes unless the organization has obtained a license under
subsection 3.
2. No advisory organization may refuse to supply any services for which it is licensed in
this state to any insurer authorized to do business in this state and offering to pay the
fair and usual compensation for the services.
3. a. An advisory organization applying for a license shall include with its application:
(1)A copy of its constitution, charter, articles of organization, agreement,
association or incorporation, and a copy of its bylaws, plan of operation, and
any other rules or regulations governing the conduct of its busin
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1. No advisory organization may provide any service relating to the rates of any
insurance subject to this chapter, and no insurer may utilize the services of such
organization for such purposes unless the organization has obtained a license under
subsection 3.
2. No advisory organization may refuse to supply any services for which it is licensed in
this state to any insurer authorized to do business in this state and offering to pay the
fair and usual compensation for the services.
3. a. An advisory organization applying for a license shall include with its application:
(1) A copy of its constitution, charter, articles of organization, agreement,
association or incorporation, and a copy of its bylaws, plan of operation, and
any other rules or regulations governing the conduct of its business;
(2) A list of its members and subscribers;
(3) The name and address of one or more residents of this state upon whom
notices, process affecting it, or orders of the commissioner may be served;
(4) A statement showing its technical qualifications for acting in the capacity for
which it seeks a license;
(5) A biography of the ownership and management of the organization; and
(6) Any other relevant information and documents that the commissioner may
require.
b. Every organization that has applied for a license shall notify the commissioner of
every material change in the facts or in the documents on which its application
was based. Any amendment to a document filed under this section must be filed
at least thirty days before it becomes effective.
c. If the commissioner finds that the applicant and the natural persons through
whom it acts are competent, trustworthy, and technically qualified to provide the
services proposed, and that all requirements of the law are met, the
commissioner shall issue a license specifying the authorized activity of the
applicant. The commissioner may not issue a license if the proposed activity
would tend to create a monopoly or to substantially lessen the competition in any
market.
d. Licenses issued pursuant to this section are perpetual in duration unless the
license is suspended or revoked. The fee for the license is fifty dollars per year.
The commissioner may at any time, after hearing, revoke or suspend the license
of an advisory organization that does not comply with the requirements and
standards of this chapter.