North Dakota Code 26.1-26.5-05 – Liability of controlling insurance broker in the event of insolvency of controlled insurer
Current as of: 2023 | Check for updates
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If the commissioner has reason to believe that a controlling insurance broker has committed or is committing an act which could be determined to be a violation, and that the violation substantially contributed to the insolvency of a controlled insurer, the commissioner or receiver may maintain a civil action against the controlling insurance broker for all damages caused by the insurance broker’s acts.
Terms Used In North Dakota Code 26.1-26.5-05
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.