North Dakota § 26.1-57-02 Scope

North Dakota Statutes

§ 26.1-57-02 — Scope

North Dakota·Title 26.1 Insurance·Ch. 26.1-57 Guaranteed Asset Protection Waivers

1.This chapter does not apply to:

a.An insurance policy offered by an insurer under the insurance laws of this state;

b.A debt cancellation or debt suspension contract offered in compliance with title 12, Code of Federal Regulations, part 37 or title 12, Code of Federal Regulations, part 721, or other federal law; or

c.A debt cancellation or debt suspension contract offered by a bank or credit union chartered under the laws of this state.

2.Guaranteed asset protection waivers are not insurance and, except as provided under this chapter, are exempt from the insurance laws of this state. A person marketing, selling, or offering to sell guaranteed asset protection waivers to borrowers which complies with this chapter is exempt from the insurance requirements of this state.

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1. This chapter does not apply to:
a. An insurance policy offered by an insurer under the insurance laws of this state;
b. A debt cancellation or debt suspension contract offered in compliance with
title 12, Code of Federal Regulations, part 37 or title 12, Code of Federal
Regulations, part 721, or other federal law; or
c. A debt cancellation or debt suspension contract offered by a bank or credit union
chartered under the laws of this state.
2. Guaranteed asset protection waivers are not insurance and, except as provided under
this chapter, are exempt from the insurance laws of this state. A person marketing,
selling, or offering to sell guaranteed asset protection waivers to borrowers which
complies with this chapter is exempt from the insurance requirements of this state.

North Dakota § 26.1-57-02 (Scope) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.