North Dakota § 26.1-26.8-11 Proof of bond

North Dakota Statutes

§ 26.1-26.8-11 — Proof of bond

North Dakota § 26.1-26.8-11

Title 26.1Insurance

Ch. 26.1-26.8Public Adjusters

This text of North Dakota § 26.1-26.8-11 (Proof of bond) 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 § 26.1-26.8-11 (2026).

Text

1.At the time of issuance of a resident public adjuster license or a nonresident public adjuster license and for the duration of the license, an applicant shall maintain a surety bond satisfactory to the commissioner for the use and benefit of the commissioner for insureds that have remitted fees, retainers, compensation, deposits, or other things of value to the public adjuster in the course of the public adjuster's business. The bond:

a.Must be a minimum of twenty thousand dollars; and

b.May not be terminated by the surety company or public adjuster unless written notice has been filed with the commissioner and submitted to the public adjuster at least thirty days before the termination.

2.The commissioner may request the evidence of financial responsibility at any time the commissio

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1. At the time of issuance of a resident public adjuster license or a nonresident public
adjuster license and for the duration of the license, an applicant shall maintain a surety
bond satisfactory to the commissioner for the use and benefit of the commissioner for
insureds that have remitted fees, retainers, compensation, deposits, or other things of
value to the public adjuster in the course of the public adjuster's business. The bond:
a. Must be a minimum of twenty thousand dollars; and
b. May not be terminated by the surety company or public adjuster unless written
notice has been filed with the commissioner and submitted to the public adjuster
at least thirty days before the termination.
2. The commissioner may request the evidence of financial responsibility at any time the
commissioner deems relevant.
3. A public adjuster immediately shall notify the commissioner if evidence of financial
responsibility terminates or becomes impaired. The authority to act as a public adjuster
automatically terminates if the evidence of financial responsibility terminates or
becomes impaired.