North Dakota § 26.1-52-04 Facility membership

North Dakota Statutes

§ 26.1-52-04 — Facility membership

North Dakota § 26.1-52-04

Title 26.1Insurance

Ch. 26.1-52Property Insurance Placement Facility

This text of North Dakota § 26.1-52-04 (Facility membership) 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 § 26.1-52-04 (2026).

Text

Each insurer authorized to write and who is engaged in writing within this state, on a direct
basis, basic property insurance or any component thereof in multiperil policies or homeowners
insurance shall participate in the facility as a condition of its authority to do the business of
insurance in this state. Members of the facility are responsible for the cost of funding the
operations, expenses, and losses of the facility. Each year the board shall assess the members
based upon each member's pro rata share of the aggregate property insurance premium written
in the second preceding calendar year as disclosed in the annual statement and other reports
filed by members with the commissioner. The assessment must be based on the premiums
reported from income from this state in the following li

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Each insurer authorized to write and who is engaged in writing within this state, on a direct
basis, basic property insurance or any component thereof in multiperil policies or homeowners
insurance shall participate in the facility as a condition of its authority to do the business of
insurance in this state. Members of the facility are responsible for the cost of funding the
operations, expenses, and losses of the facility. Each year the board shall assess the members
based upon each member's pro rata share of the aggregate property insurance premium written
in the second preceding calendar year as disclosed in the annual statement and other reports
filed by members with the commissioner. The assessment must be based on the premiums
reported from income from this state in the following lines of the annual statement: fire, allied
lines, and homeowners multiple peril.