North Dakota Code 26.1-30-01 – Insurance policy defined – Requirements
Current as of: 2023 | Check for updates
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An insurance policy is the written insurance contract. It must specify:
Terms Used In North Dakota Code 26.1-30-01
- Contract: A legal written agreement that becomes binding when signed.
- Property: includes property, real and personal. See North Dakota Code 1-01-49
- written: include "typewriting" and "typewritten" and "printing" and "printed" except in the case of signatures and when the words are used by way of contrast to typewriting and printing. See North Dakota Code 1-01-37
1. The parties between whom the contract is made.
2. The rate of premium.
3. The property or life insured.
4. The interest of the insured in the property insured if the insured is not the absolute owner of the property.
5. The risks insured against.
6. The period during which the insurance is to continue.