§ 26.1-27-03 — License required - Penalty

1. A person, including a person who directly or indirectly underwrites, collects charges or
premiums from, or adjusts or settles claims on residents of this state in connection with
life, annuity, or health coverage provided by a self-funded plan, may not act as or hold
oneself out to be an administrator in this state, for the kinds of business for which the
person is acting as an administrator, without a license issued by the commissioner.
Any person violating this subsection is guilty of a class C felony.
2. All applications must be accompanied by a filing fee as prescribed in section
26.1-01-07.
3. The commissioner shall issue a license unless the commissioner after due notice and
hearing determines that the administrator is not competent, trustworthy, financially

responsible, or of good personal and business reputation, or has had a previous
application for an insurance license denied for cause within five years.
4. The administrator shall pay an annual renewal fee as prescribed in section 26.1-01-07
to maintain the license.
5. After notice and hearing, the commissioner may revoke a license or fine the
administrator not more than ten thousand dollars, or both, or the commissioner may
suspend a license, or fine the administrator not more than five thousand dollars, or
both, upon finding that either the administrator violated section 26.1-27-05 and
subsection 4 of section 26.1-27-06 and also violated subsection 1, 2, or 3 of section
26.1-27-06 or section 26.1-27-07, 26.1-27-08, 26.1-27-10, 26.1-27-11, or 26.1-27-12,
or the administrator is not competent, trustworthy, financially responsible, or of good
personal and business reputation.