North Dakota § 26.1-46-04 Compulsory associations

North Dakota Statutes

§ 26.1-46-04 — Compulsory associations

North Dakota § 26.1-46-04

Title 26.1Insurance

Ch. 26.1-46Risk Retention Groups and Purchasing Groups

This text of North Dakota § 26.1-46-04 (Compulsory associations) 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 § 26.1-46-04 (2026).

Text

1.No risk retention group may join or contribute financially to any insurance insolvency guaranty fund, or similar mechanism, in this state, nor may any risk retention group, or its insureds, receive any benefit from any such fund for claims arising out of the operations of such risk retention group.

2.When a purchasing group obtains insurance covering its members' risks from an insurer not authorized in this state or a risk retention group, no such risks, wherever resided or located, may be covered by any insurance guaranty fund or similar mechanism in this state.

3.When a purchasing group obtains insurance covering its members' risks from an authorized insurer, only risks resident or located in this state may be covered by the state guaranty fund subject to chapter 26.1-42.1.

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1. No risk retention group may join or contribute financially to any insurance insolvency
guaranty fund, or similar mechanism, in this state, nor may any risk retention group, or
its insureds, receive any benefit from any such fund for claims arising out of the
operations of such risk retention group.
2. When a purchasing group obtains insurance covering its members' risks from an
insurer not authorized in this state or a risk retention group, no such risks, wherever
resided or located, may be covered by any insurance guaranty fund or similar
mechanism in this state.
3. When a purchasing group obtains insurance covering its members' risks from an
authorized insurer, only risks resident or located in this state may be covered by the
state guaranty fund subject to chapter 26.1-42.1.