§ 26.1-05-01 General powers and duties of domestic company
§ 26.1-05-02 Organization of domestic stock company – Number of persons required – Authorized lines
§ 26.1-05-02.1 Authority to define products
§ 26.1-05-04 Capital stock and surplus requirements of domestic stock company – Exceptions
§ 26.1-05-06 Articles of incorporation – Contents – Filing – Company name
§ 26.1-05-07 Examination of articles by commissioner – Certificate – Filing
§ 26.1-05-07.1 Approval of the domestic insurer – Premium waiver
§ 26.1-05-07.2 Effects of redomestication
§ 26.1-05-07.3 Conversion to foreign insurer
§ 26.1-05-08 Stock subscriptions
§ 26.1-05-09 Commissioner authorized to regulate solicitation of proxies
§ 26.1-05-10 Equity security defined
§ 26.1-05-11 Statement of ownership required
§ 26.1-05-12 Gains to benefit company – Suit to recover
§ 26.1-05-13 Conditions of sale
§ 26.1-05-14 Exceptions
§ 26.1-05-15 Rulemaking authority – Liability
§ 26.1-05-16 Capital stock reduced – Examination and certificate of commissioner
§ 26.1-05-17 Transfer of stock pending examination – Liability
§ 26.1-05-18 Investment of funds must be authorized by directors – Prohibited investment practices
§ 26.1-05-19 Authorized investment of funds of insurance companies
§ 26.1-05-19.1 Call options – Financial futures contracts
§ 26.1-05-20 Limitation on purchase and conveyance of real property
§ 26.1-05-21 Real property acquired by domestic company – When sale required
§ 26.1-05-22 Liabilities of officers and directors of domestic company
§ 26.1-05-23 Domestic life insurance company to deposit securities with commissioner
§ 26.1-05-24 Commissioner may examine books and securities of domestic life insurance company
§ 26.1-05-25 Securities may be exchanged – Withdrawal of securities
§ 26.1-05-26 Dividends on securities property of company
§ 26.1-05-27 Certificate of compliance with security deposit law – Issuance – Renewal – Attachment to policies
§ 26.1-05-28 Securities vest in policyholders on default of domestic life insurance company
§ 26.1-05-29 Nonapplicability of reserve deposit provisions to fraternal benefit societies
§ 26.1-05-30 Disbursements by domestic life insurance company to be made on voucher – Requirements
§ 26.1-05-31 Salaries and expenses of officers and agents of domestic life insurance company – Restrictions
§ 26.1-05-32 Impairment of capital or surplus of domestic life insurance company – Determination of deficiency – Notice not to issue policies
§ 26.1-05-33 Dividends to be paid by domestic fire insurance company from surplus profits only – Compensation
§ 26.1-05-34 Reciprocal states – Restrictions on domestic companies – Exceptions
§ 26.1-05-35 Participation in clearing corporations and book entry systems – Rulemaking authority

Terms Used In North Dakota Code > Chapter 26.1-05 - Organization and Operation of Domestic Companies

  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Continuance: Putting off of a hearing ot trial until a later time.
  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. Source: OCC
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • 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
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • National Credit Union Administration: The federal regulatory agency that charters and supervises federal credit unions. (NCUA also administers the National Credit Union Share Insurance Fund, which insures the deposits of federal credit unions.) Source: OCC
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Organization: includes a foreign or domestic association, business trust, corporation, enterprise, estate, joint venture, limited liability company, limited liability partnership, limited partnership, partnership, trust, or any legal or commercial entity. See North Dakota Code 1-01-49
  • paper: means any flexible material upon which it is usual to write. See North Dakota Code 1-01-27
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Partnership: includes a limited liability partnership registered under chapter 45-22. See North Dakota Code 1-01-49
  • Person: means an individual, organization, government, political subdivision, or government agency or instrumentality. See North Dakota Code 1-01-49
  • Personal property: All property that is not real property.
  • Personal property: includes money, goods, chattels, things in action, and evidences of debt. See North Dakota Code 1-01-49
  • Property: includes property, real and personal. See North Dakota Code 1-01-49
  • Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Rule: includes regulation. See North Dakota Code 1-01-49
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • 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
  • Statute: A law passed by a legislature.
  • Trustee: A person or institution holding and administering property in trust.
  • United States: includes the District of Columbia and the territories. See North Dakota Code 1-01-49
  • Verified: means sworn to before an officer authorized to administer oaths. See North Dakota Code 1-01-42
  • 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
  • year: means twelve consecutive months. See North Dakota Code 1-01-33