North Dakota § 26.1-33.4-09 Disclosure to insurer

North Dakota Statutes

§ 26.1-33.4-09 — Disclosure to insurer

North Dakota § 26.1-33.4-09

Title 26.1Insurance

Ch. 26.1-33.4Life Settlements

This text of North Dakota § 26.1-33.4-09 (Disclosure to insurer) 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 § 26.1-33.4-09 (2026).

Text

Without limiting the ability of an insurer from assessing the insurability of a policy applicant and determining whether to issue the policy, and in addition to other questions an insurance carrier may lawfully pose to a life insurance applicant, insurance carriers may inquire in the application for insurance whether the proposed owner intends to pay premiums with the assistance of financing from a lender that will use the policy as collateral to support the financing.

1.If, as described in subsection 11 of section 26.1-33.4-01, the loan provides funds that can be used for a purpose other than paying for the premiums, costs, and expenses associated with obtaining and maintaining the life insurance policy and loan, the application must be rejected as a violation of the prohibited practices

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Without limiting the ability of an insurer from assessing the insurability of a policy applicant
and determining whether to issue the policy, and in addition to other questions an insurance
carrier may lawfully pose to a life insurance applicant, insurance carriers may inquire in the
application for insurance whether the proposed owner intends to pay premiums with the
assistance of financing from a lender that will use the policy as collateral to support the
financing.
1. If, as described in subsection 11 of section 26.1-33.4-01, the loan provides funds that
can be used for a purpose other than paying for the premiums, costs, and expenses
associated with obtaining and maintaining the life insurance policy and loan, the
application must be rejected as a violation of the prohibited practices in section