North Dakota § 26.1-53.1-05 Surety bond

North Dakota Statutes

§ 26.1-53.1-05 — Surety bond

North Dakota § 26.1-53.1-05

Title 26.1Insurance

Ch. 26.1-53.1Discount Plans

This text of North Dakota § 26.1-53.1-05 (Surety bond) 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 § 26.1-53.1-05 (2026).

Text

Each registered discount plan organization shall maintain in force a surety bond in the
organization's own name in an amount not less than thirty-five thousand dollars to be used in
the discretion of the commissioner to protect the financial interest of members. The bond must
be issued by an insurance company licensed to do business in this state. Initially, a copy of the
bond or a statement identifying the depository, trustee, and account number of the surety
account, and for renewal proof of annual renewal of the bond or maintenance of the surety
account, must be filed with the commissioner.

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Each registered discount plan organization shall maintain in force a surety bond in the
organization's own name in an amount not less than thirty-five thousand dollars to be used in
the discretion of the commissioner to protect the financial interest of members. The bond must
be issued by an insurance company licensed to do business in this state. Initially, a copy of the
bond or a statement identifying the depository, trustee, and account number of the surety
account, and for renewal proof of annual renewal of the bond or maintenance of the surety
account, must be filed with the commissioner.