North Dakota § 26.1-25.1-05 Initial notification

North Dakota Statutes

§ 26.1-25.1-05 — Initial notification

North Dakota § 26.1-25.1-05

Title 26.1Insurance

Ch. 26.1-25.1Personal Insurance Credit Information

This text of North Dakota § 26.1-25.1-05 (Initial notification) 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.

Bluebook

N.D. Cent. Code § 26.1-25.1-05 (2026).

Text

1.If an insurer writing personal insurance uses credit information in underwriting or rating a consumer, the insurer or the insurer's agent shall disclose, either on the insurance application or at the time the insurance application is taken, that the insurer or the insurer's agent may obtain credit information in connection with such application. Such disclosure must be either written or provided to an applicant in the same medium as the application for insurance. The insurer or the insurer's agent need not provide the disclosure statement required under this section to any insured on a renewal policy if such consumer has previously been provided a disclosure statement.

2.Use of the following example disclosure statement constitutes compliance with this section: "In connection with this

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1. If an insurer writing personal insurance uses credit information in underwriting or rating
a consumer, the insurer or the insurer's agent shall disclose, either on the insurance
application or at the time the insurance application is taken, that the insurer or the
insurer's agent may obtain credit information in connection with such application. Such
disclosure must be either written or provided to an applicant in the same medium as
the application for insurance. The insurer or the insurer's agent need not provide the
disclosure statement required under this section to any insured on a renewal policy if
such consumer has previously been provided a disclosure statement.
2. Use of the following example disclosure statement constitutes compliance with this
section: "In connection with this application for insurance, we may review your credit
report or obtain or use a credit-based insurance score based on the information
contained in that credit report. We may use a third party in connection with the
development of your insurance score."