§ 26.1-26.3-02 — Licensure

North Dakota § 26.1-26.3-02

• Jurisdiction: North Dakota
• Title 26.1: Insurance
• Ch. 26.1-26.3: Managing General Agents

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1. No individual, partnership, corporation, or limited liability company may act in the
capacity of a managing general agent with respect to risks located in this state for an
insurer licensed in this state unless the individual, partnership, corporation, or limited
liability company is licensed as an insurance producer in this state.
2. An individual, partnership, corporation, or limited liability company may not act in the
capacity of a managing general agent representing an insurer domiciled in this state
with respect to risks located outside this state unless the individual, partnership,
corporation, or limited liability company is licensed as either a resident or nonresident
insurance producer in this state pursuant to the provisions of this title.
3. The commissioner may require a bond in an amount acceptable to the commissioner
for the protection of the insurer.
4. The commissioner may require the managing general agent to maintain an adequate
errors and omissions policy.