North Dakota § 26.1-31.1-05 Duties of insurers utilizing the services of reinsurance intermediary-broker

North Dakota Statutes

§ 26.1-31.1-05 — Duties of insurers utilizing the services of reinsurance intermediary-broker

North Dakota § 26.1-31.1-05

Title 26.1Insurance

Ch. 26.1-31.1Reinsurance Intermediaries

This text of North Dakota § 26.1-31.1-05 (Duties of insurers utilizing the services of reinsurance intermediary-broker) 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 § 26.1-31.1-05 (2026).

Text

intermediary-broker.

1.An insurer may not engage the services of any person, firm, association, corporation, or limited liability company to act as a reinsurance intermediary-broker on its behalf unless the person, firm, association, corporation, or limited liability company is licensed as required by subsection 1 of section 26.1-31.1-02.

2.An insurer may not employ an individual who is employed by a reinsurance intermediary-broker with which it transacts business, unless the reinsurance intermediary-broker is under common control with the insurer and subject to chapter 26.1-10.

3.The insurer shall annually obtain a copy of statements of the financial condition of each reinsurance intermediary-broker with which it transacts business.

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intermediary-broker.
1. An insurer may not engage the services of any person, firm, association, corporation,
or limited liability company to act as a reinsurance intermediary-broker on its behalf
unless the person, firm, association, corporation, or limited liability company is
licensed as required by subsection 1 of section 26.1-31.1-02.
2. An insurer may not employ an individual who is employed by a reinsurance
intermediary-broker with which it transacts business, unless the reinsurance
intermediary-broker is under common control with the insurer and subject to chapter
26.1-10.
3. The insurer shall annually obtain a copy of statements of the financial condition of
each reinsurance intermediary-broker with which it transacts business.