North Dakota § 26.1-38.1-08 Duties and powers of the commissioner

North Dakota Statutes

§ 26.1-38.1-08 — Duties and powers of the commissioner

North Dakota § 26.1-38.1-08

Title 26.1Insurance

Ch. 26.1-38.1Life and Health Insurance Guaranty Association

This text of North Dakota § 26.1-38.1-08 (Duties and powers of the commissioner) 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 § 26.1-38.1-08 (2026).

Text

In addition to the duties and powers enumerated elsewhere in this chapter:

1.The commissioner shall:

a.Upon request of the board of directors, provide the association with a statement of premiums in this and any other appropriate states for each member insurer;

b.When an impairment is declared and the amount of the impairment is determined, serve a demand upon the impaired insurer to make good the impairment within a reasonable time; notice to the impaired insurer constitutes notice to its shareholders, if any; and the failure of the impaired insurer to promptly comply with such demand does not excuse the association from the performance of its powers and duties under this chapter; and

c.In any liquidation or rehabilitation proceedings involving a domestic insurer, be appointed as the

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In addition to the duties and powers enumerated elsewhere in this chapter:
1. The commissioner shall:
a. Upon request of the board of directors, provide the association with a statement
of premiums in this and any other appropriate states for each member insurer;
b. When an impairment is declared and the amount of the impairment is determined,
serve a demand upon the impaired insurer to make good the impairment within a
reasonable time; notice to the impaired insurer constitutes notice to its
shareholders, if any; and the failure of the impaired insurer to promptly comply
with such demand does not excuse the association from the performance of its
powers and duties under this chapter; and
c. In any liquidation or rehabilitation proceedings involving a domestic insurer, be
appointed as the liquidator or rehabilitator.
2. The commissioner may suspend or revoke, after notice and hearing, the certificate of
authority to transact business in this state of any member insurer which fails to pay an
assessment when due or fails to comply with the plan of operation. As an alternative,
the commissioner may levy a forfeiture on any member insurer which fails to pay an
assessment when due. Such forfeiture may not exceed five percent of the unpaid
assessment per month, but no forfeiture may be less than one hundred dollars per
month.
3. Any final action of the board of directors or the association may be appealed to the
commissioner by any member insurer if such appeal is taken within sixty days of the
member's receipt of notice of the final action being appealed. Any final action or order
of the commissioner is subject to judicial review in a court of competent jurisdiction in
accordance with the laws of this state which apply to the action or orders of the
commissioner.
4. The liquidator, rehabilitator, or conservator of any impaired or insolvent insurer may
notify any interested persons of the effect of this chapter.