§ 26.1-55-01 — Definitions

North Dakota § 26.1-55-01

• Jurisdiction: North Dakota
• Title 26.1: Insurance
• Ch. 26.1-55: Unclaimed Life Insurance Benefits

Text

As used in this chapter:
1. "Contract" means an annuity contract issued in this state. The term does not include
an annuity used to fund an employment-based retirement plan or program in which the
insurer is not committed by terms of the annuity contract to pay death benefits to the
beneficiaries of specific plan participants.
2. "Death master file" means the United States social security administration's death
master file or any other database or service the commissioner has determined is at
least as comprehensive as the United States social security administration's death
master file for determining that an individual has reportedly died.
3. "Death master file match" means a search of the death master file or revised death
master file which results in a match of the social security number or of the name and
date of birth of an insured, annuity owner, or retained asset accountholder.
4. "Policy" means any policy or certificate of life insurance issued in this state which
provides a death benefit. The term does not include:
a. A policy or certificate of life insurance which provides a death benefit under an
employee benefit plan subject to the federal Employee Retirement Income
Security Act of 1974 [Pub. L. 93-406; 29 U.S.C. 1002 et seq.];
b. A policy or certificate of life insurance which provides a death benefit under an
employee benefit plan under any federal employee benefit program;
c. A policy or certificate of life insurance which is used to fund a pre-need funeral
contract or prearrangement; or
d. A policy or certificate of credit life or accidental death insurance.
5. "Revised death master file" means the names added to the death master file since the
insurer's most recent semiannual comparison required under this chapter.