Any insurance company claiming an exemption under subsection 6 of section 26.1-02-05 from a requirement that the company have a certificate of authority to do business in this state or comply with the insurance laws of this state shall provide the following information to the insurance commissioner for the commissioner’s approval of the exemption:

Terms Used In North Dakota Code 26.1-02-05.1

  • Contract: A legal written agreement that becomes binding when signed.
  • following: when used by way of reference to a chapter or other part of a statute means the next preceding or next following chapter or other part. See North Dakota Code 1-01-49
  • State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See North Dakota Code 1-01-49

1.    A copy of the trust agreement for the group.

2.    A full copy of the master contract.

3.    A copy of the certificate of insurance to be issued or sold in this state.

4.    A copy of the application for the certificate of insurance.

5.    A copy of a disclosure statement used in the solicitation of the insurance indicating that the protection of North Dakota’s insurance laws will not be provided to the holders of certificates of insurance issued by the group.

6.    An assurance that only one type of insurance coverage may be included in each mailing or mass market solicitation.

7.    Such other information as the commissioner deems necessary to assure that the group is organized for purposes other than the procurement of insurance or otherwise meets the requirements of subsection 6 of section 26.1-02-05.

No company may issue or deliver a policy of insurance or issue or deliver for issue a certificate of insurance in this state without a certificate of authority unless it has first been granted approval in writing to do so by the commissioner under this section.

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