§ 26.1-45-02 — Group long-term care insurance - Association requirements - Approval

North Dakota § 26.1-45-02

• Jurisdiction: North Dakota
• Title 26.1: Insurance
• Ch. 26.1-45: Long-Term Care Insurance

Text

Group long-term care insurance may be issued or delivered for the benefit of members of
an association, as defined in subdivision c of subsection 3 of section 26.1-45-01, if prior to
advertising, marketing, or offering a policy within this state, the association, or the insurer of the
association, files evidence with the insurance commissioner that the association has at the
outset a minimum of one hundred persons, has been organized and maintained in good faith for

purposes other than that of obtaining insurance, has been in active existence for at least one
year, and has a constitution and bylaws that provide that:
1. The association hold regular meetings not less than annually to further the purposes of
the members.
2. Except for credit unions, the association collect dues or solicit contributions from
members.
3. The members have voting privileges and representation on the governing board and
committees.
Thirty days after the filing, the association is deemed to satisfy the organizational requirements,
unless the commissioner makes a finding that the association does not satisfy the
organizational requirements.