North Dakota Code 26.1-44-02 – Duty to file evidence of insurance
1. Each surplus lines producer, after the placing of any surplus lines insurance if the insured’s home state is this state, shall execute and file a report of placement, no later than March first for the quarter ending the preceding December thirty-first, June first for the quarter ending the preceding March thirty-first, September first for the quarter ending the preceding June thirtieth, and December first for the quarter ending the preceding September thirtieth of each year, regarding the insurance which must be kept confidential by the commissioner. The report of placement must include:
Terms Used In North Dakota Code 26.1-44-02
- Oversight: Committee review of the activities of a Federal agency or program.
- 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
- year: means twelve consecutive months. See North Dakota Code 1-01-33
a. The name and address of the insured; b. The identity of the insurer or insurers; c. The amount of premium charged for the insurance; d. The amount of premium tax; and
e. Any other pertinent information as the commissioner may reasonably require.
2. A surplus lines producer seeking to place nonadmitted insurance for an exempt commercial purchaser is not required to make a due diligence search if the surplus lines producer has disclosed to the exempt commercial purchaser that such insurance may or may not be available from the admitted market that may provide greater protection with more regulatory oversight and the exempt commercial purchaser has subsequently requested in writing the surplus lines producer to procure or place such insurance from a nonadmitted insurer.