North Dakota § 26.1-26.7-06 Application for license and fees

North Dakota Statutes

§ 26.1-26.7-06 — Application for license and fees

North Dakota § 26.1-26.7-06

Title 26.1Insurance

Ch. 26.1-26.7Portable Electronics Insurance

This text of North Dakota § 26.1-26.7-06 (Application for license and fees) 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 § 26.1-26.7-06 (2026).

Text

1.A vendor shall apply for licensure under subsection 2 of section 26.1-26-13.3.

2.An applicant shall apply for licensure under the provisions of section 26.1-26-13.3. In lieu of providing the information for all officers, directors, and shareholders owning more than ten percent of the applicant, the requirements for the applicant are limited to requiring the applicant to provide the name, residence address, and other information required by the commissioner for an employee or officer of the vendor that is designated by the applicant as the person responsible for the vendor's compliance with the requirements of this chapter. However, if the vendor derives more than fifty percent of the vendor's revenue from the sale of portable electronics insurance the information required under this s

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1. A vendor shall apply for licensure under subsection 2 of section 26.1-26-13.3.
2. An applicant shall apply for licensure under the provisions of section 26.1-26-13.3. In
lieu of providing the information for all officers, directors, and shareholders owning
more than ten percent of the applicant, the requirements for the applicant are limited to
requiring the applicant to provide the name, residence address, and other information
required by the commissioner for an employee or officer of the vendor that is
designated by the applicant as the person responsible for the vendor's compliance
with the requirements of this chapter. However, if the vendor derives more than fifty
percent of the vendor's revenue from the sale of portable electronics insurance the

information required under this subsection must be provided for all officers, directors,
and shareholder of record having beneficial ownership of ten percent or more.
3. Each vendor of portable electronic devices licensed under this chapter shall pay to the
commissioner a fee as prescribed by the commissioner.
4. Any vendor engaging in portable electronics insurance transactions before July 1,
2015, shall apply for licensure within ninety days of the application being made
available by the commissioner. Any applicant commencing operations after July 1,
2015 shall obtain a license before offering portable electronics insurance. The
provisions and penalties under this section are in addition to those provided under
chapter 26.1-26.