North Dakota Code 26.1-27-06 – Contents of agreement – Requirements
The agreement between the administrator and the insurer must contain:
Terms Used In North Dakota Code 26.1-27-06
- Fiduciary: A trustee, executor, or administrator.
- Person: means an individual, organization, government, political subdivision, or government agency or instrumentality. See North Dakota Code 1-01-49
1. A provision with respect to underwriting or other standards pertaining to the business underwritten by the insurer.
2. A provision that the administrator may use only such advertising pertaining to the business underwritten by an insurer as has been approved by the insurer in advance of its use.
3. A provision that withdrawals from the fiduciary account may be made only for:
a. Remittance to an insurer entitled thereto.
b. Deposit in an account maintained in the name of the insurer.
c. Transfer to and deposit in a claims paying account, with claims to be paid as provided in section 26.1-27-10.
d. Payment to a group policyholder for remittance to the insurer entitled thereto. e. Payment to the administrator of its commission, fees, or charges.
f. Remittance of return premiums to the person or persons entitled thereto.
4. Provisions which include the requirements of sections 26.1-27-08, 26.1-27-10, 26.1-27-11, and 26.1-27-12 except insofar as those requirements do not apply to the functions performed by the administrator.