North Dakota § 65-08.1-03 Workforce safety and insurance company created - Stock requirements

North Dakota Statutes

§ 65-08.1-03 — Workforce safety and insurance company created - Stock requirements

North Dakota § 65-08.1-03

Title 65Workforce Safety and Insurance

Ch. 65-08.1Workforce Safety and Insurance Company

This text of North Dakota § 65-08.1-03 (Workforce safety and insurance company created - Stock requirements) 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 § 65-08.1-03 (2026).

Text

The North Dakota workforce safety and insurance may establish a stock insurance
company to provide extraterritorial workforce safety and insurance, other states insurance, and
employer's liability insurance to North Dakota employers insured by the organization. The
capital stock and surplus for the company must be paid out of the workforce safety and
insurance fund. The company shall have capital stock of at least five hundred thousand dollars
and a surplus of at least five hundred thousand dollars. The company may not issue an
insurance policy until fifty percent of the required capital stock and all of the required surplus
have been paid in, and the residue of capital stock must be paid in within twelve months from
the time of filing the articles of incorporation. The organization is the

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The North Dakota workforce safety and insurance may establish a stock insurance
company to provide extraterritorial workforce safety and insurance, other states insurance, and
employer's liability insurance to North Dakota employers insured by the organization. The
capital stock and surplus for the company must be paid out of the workforce safety and
insurance fund. The company shall have capital stock of at least five hundred thousand dollars
and a surplus of at least five hundred thousand dollars. The company may not issue an
insurance policy until fifty percent of the required capital stock and all of the required surplus
have been paid in, and the residue of capital stock must be paid in within twelve months from
the time of filing the articles of incorporation. The organization is the sole stockholder of the
company. The company must be incorporated pursuant to the laws of this state and is subject to
title 26.1 unless otherwise provided.