reglab/statecodes huggingface dataset:
North Dakota Administrative Code › Title 45 - Insurance, Commissioner of › Article 45-02 - Regulation of Insurance Producers, Consultants, and Administrators › Chapter 45-02-03 - Licensing of Administrators › Section 45-02-03-01 - Definitions

Current through Supplement No. 393, July, 2024
Unless otherwise defined or made inappropriate by context,
				  all words used in this chapter have meaning as given them under North Dakota
				  Century Code chapter 26.1-27.
General Authority: NDCC 26.1-01-08
Law Implemented: NDCC
					 26.1-27
North Dakota Administrative Code › Title 45 - Insurance, Commissioner of › Article 45-02 - Regulation of Insurance Producers, Consultants, and Administrators › Chapter 45-02-03 - Licensing of Administrators › Section 45-02-03-02 - Application for license Fee

Current through Supplement No. 393, July, 2024
All persons defined as administrators under the provisions
				  of North Dakota Century Code chapter 26.1-27 must complete an application form
				  and file it with the insurance department and must remit the required fee along
				  with the application.
General Authority: NDCC 26.1-01-08
Law Implemented: NDCC
					 26.1-27
North Dakota Administrative Code › Title 45 - Insurance, Commissioner of › Article 45-02 - Regulation of Insurance Producers, Consultants, and Administrators › Chapter 45-02-03 - Licensing of Administrators › Section 45-02-03-03 - Signature on application

Current through Supplement No. 393, July, 2024
The application must be signed by the applicant personally
				  if an individual, a partner, if a partnership, an officer, if a corporation,
				  association, or benefit society.
General Authority: NDCC 26.1-01-08
Law Implemented: NDCC
					 26.1-27
North Dakota Administrative Code › Title 45 - Insurance, Commissioner of › Article 45-02 - Regulation of Insurance Producers, Consultants, and Administrators › Chapter 45-02-03 - Licensing of Administrators › Section 45-02-03-05 - Change of address

Current through Supplement No. 393, July, 2024
The applicant/administrator is required to provide a current
				  address to the department and notify the department of any change in that
				  address within thirty days of such change. If such notification is not
				  provided, the certificate of registration may be administratively terminated.
General Authority: NDCC 26.1-01-08
Law Implemented: NDCC
					 26.1-01-08
North Dakota Administrative Code › Title 45 - Insurance, Commissioner of › Article 45-02 - Regulation of Insurance Producers, Consultants, and Administrators › Chapter 45-02-03 - Licensing of Administrators › Section 45-02-03-06 - Renewal procedure

Current through Supplement No. 393, July, 2024
The administrator is required to remit the renewal fee on or
				  before April thirtieth of each year in order to maintain the certificate of
				  authority. If such fee is not received in the prescribed time, the certificate
				  of authority may be administratively terminated. The department will provide
				  notice of the renewal of the certificate of authority or the termination of
				  that certificate of authority. Certificates of authority issued after January
				  first will not be required to renew until April thirtieth of the following
				  calendar year.
General Authority: NDCC 26.1-01-08
Law Implemented: NDCC
					 26.1-27
North Dakota Administrative Code › Title 45 - Insurance, Commissioner of › Article 45-02 - Regulation of Insurance Producers, Consultants, and Administrators › Chapter 45-02-03 - Licensing of Administrators › Section 45-02-03-08 - Proceedings - Hearings and appeals

Current through Supplement No. 393, July, 2024
All proceedings, hearings, and appeals under this chapter
				  and North Dakota Century Code chapter 26.1-27 shall be governed by North Dakota
				  Century Code chapter 28-32.
General Authority: NDCC 26.1-01-08
Law Implemented: NDCC
					 26.1-27
North Dakota Administrative Code › Title 45 - Insurance, Commissioner of › Article 45-02 - Regulation of Insurance Producers, Consultants, and Administrators › Chapter 45-02-04 - Insurance Continuing Education › Section 45-02-04-01 - Purpose

Current through Supplement No. 393, July, 2024
Insurance continuing education courses must promote
				  educational activities that advance one's professional expertise and keep the
				  individual abreast with the insurance industry. Routine meetings, luncheons,
				  and gatherings not advertised and developed as insurance continuing education
				  events will not qualify for insurance continuing education credit. This does
				  not apply to industry, regulatory, or legislative meetings held by or on behalf
				  of a professional insurance association in conjunction with North Dakota
				  Century Code section 26.1-26-31.9.
General Authority:
NDCC 26.1-26-49
Law Implemented:
NDCC 26.1-26-49
North Dakota Administrative Code › Title 45 - Insurance, Commissioner of › Article 45-02 - Regulation of Insurance Producers, Consultants, and Administrators › Chapter 45-02-04 - Insurance Continuing Education › Section 45-02-04-02 - Definitions

Current through Supplement No. 393, July, 2024
As used in this chapter, unless the context or subject
				  matter otherwise requires:
1. "Commissioner" means the insurance commissioner.
2. "Coordinator" means an individual who is responsible for
				  monitoring insurance continuing education offerings and who serves as the
				  liaison for students, instructors, and the commissioner.
3. "Instructor" means an individual who teaches, lectures, or
				  otherwise instructs an insurance continuing education offering.
4. "Insurance continuing education" means an accredited
				  educational experience derived from participation in approved lectures,
				  seminars, and correspondence courses in areas related to insurance. This
				  education must be designed to improve the professional skills of the
				  participant and upgrade the standard of all insurance licensees to better serve
				  the public.
5. "Insurance lines of authority" for insurance continuing
				  education purposes include life and annuity insurance, accident and health
				  insurance, property insurance, casualty insurance, personal lines insurance,
				  and crop hail insurance.
6. "Insurance producer or licensee" means a natural person
				  licensed by this state for the type and kind of insurance being marketed and
				  for which licensing examinations are required.
7. "License" means the authorization issued to an individual
				  by the insurance commissioner to act as an insurance producer.
8. "License applicant" means a person not currently licensed
				  or an insurance producer seeking a license for a line or lines of insurance for
				  which the person is not currently licensed.
9. "National insurance education program" means a curriculum
				  dedicated to the continuance of insurance education, leading to a nationally
				  accepted insurance designation, such as a chartered property casualty
				  underwriter (CPCU), a chartered life underwriter (CLU), or a registered health
				  underwriter (RHU).
10. "Provider" means a natural person, firm, institution,
				  partnership, corporation, or association offering or providing insurance
				  education.
General Authority: NDCC 26.1-26-49
Law Implemented: NDCC
					 26.1-26-49
North Dakota Administrative Code › Title 45 - Insurance, Commissioner of › Article 45-02 - Regulation of Insurance Producers, Consultants, and Administrators › Chapter 45-02-04 - Insurance Continuing Education › Section 45-02-04-03 - General rules

Current through Supplement No. 393, July, 2024
1.
Course
				requirements.
The insurance continuing education course requirements
				include an educational presentation involving insurance fundamentals, policies,
				laws, risk management, or other courses which are offered in a process of
				instruction approved by the commissioner as expanding skills and developing
				knowledge to better serve the insurance buying public.
2.
Nonapproved courses.
The
				following course content will not qualify for insurance continuing education
				credit:
a. Prelicensure training.
b. Prospecting.
c. Recruiting.
d. Sales skills and promotions.
e. Motivation
f. Psychology.
g. Communication skills.
h. Supportive office and machine skills.
i. Personnel management.
The above listing does not limit the commissioner's
				  authority to disapprove any application which fails to meet the standards for
				  course approval.
North Dakota Administrative Code › Title 45 - Insurance, Commissioner of › Article 45-02 - Regulation of Insurance Producers, Consultants, and Administrators › Chapter 45-02-04 - Insurance Continuing Education › Section 45-02-04-04 - General powers of commissioner

Current through Supplement No. 393, July, 2024
The commissioner may deny, censure, suspend, or revoke the
				  approval of a provider, coordinator, instructor, or course if it is determined
				  not to be in compliance with the statute or rules governing the offering of
				  insurance continuing education courses. The commissioner may also refuse to
				  approve courses conducted by specific providers if the commissioner determines
				  that past offerings have not been in compliance with insurance continuing
				  education laws and rules.
General Authority: NDCC 26.1-26-49
Law Implemented: NDCC
					 26.1-26-49
North Dakota Administrative Code › Title 45 - Insurance, Commissioner of › Article 45-02 - Regulation of Insurance Producers, Consultants, and Administrators › Chapter 45-02-04 - Insurance Continuing Education › Section 45-02-04-05 - Course coordinator

Current through Supplement No. 393, July, 2024
1.
General
				requirement.
Each course of study must have at least one coordinator,
				approved by the commissioner, who is responsible for supervising the program
				and assuring compliance with the statutes and rules governing the offering of
				insurance continuing education courses.
2.
Qualifications.
Course
				coordinators shall possess at least one of the following qualifications:
a. A minimum of five years' experience during
				the immediately preceding five-year period as an active licensed insurance
				agent;
b. At least three years'
				full-time experience during the immediately preceding five-year period in the
				administration of an education program; or
c. A degree in education plus at least two
				years' insurance experience during the immediately preceding five-year period.
North Dakota Administrative Code › Title 45 - Insurance, Commissioner of › Article 45-02 - Regulation of Insurance Producers, Consultants, and Administrators › Chapter 45-02-04 - Insurance Continuing Education › Section 45-02-04-06 - Instructors

Current through Supplement No. 393, July, 2024
1.
General requirement.
Failure
				to have approved instructors teaching an approved insurance continuing
				education offering will result in loss of course approval.
2.
Qualifications.
Instructors
				shall possess the following qualifications:
a. Three years of recent experience in the
				subject area being taught;
b. A
				degree related to the subject area being taught; or
c. Two years of recent experience in the
				subject area being taught and sixty hours of coursework in the subject area
				being taught.
North Dakota Administrative Code › Title 45 - Insurance, Commissioner of › Article 45-02 - Regulation of Insurance Producers, Consultants, and Administrators › Chapter 45-02-04 - Insurance Continuing Education › Section 45-02-04-07 - Prohibited practices

Current through Supplement No. 393, July, 2024
Providers, coordinators, and instructors are prohibited from
				  misrepresenting any material submitted to the commissioner
General Authority: NDCC 26.1-26-49
Law Implemented: NDCC
					 26.1-26-49
North Dakota Administrative Code › Title 45 - Insurance, Commissioner of › Article 45-02 - Regulation of Insurance Producers, Consultants, and Administrators › Chapter 45-02-04 - Insurance Continuing Education › Section 45-02-04-08 - Extension of time

Current through Supplement No. 393, July, 2024
The commissioner may grant an extension of time, not to
				  exceed one year, for completion of the requirements for continuing education.
				  Such requests must be in writing and received by the commissioner thirty days
				  prior to the ending date of the period for which the extension is requested.
				  Extensions may be granted for health, disability, or other extenuating
				  circumstances.
General Authority: NDCC 26.1-26-49
Law Implemented: NDCC
					 26.1-26-31.5
North Dakota Administrative Code › Title 45 - Insurance, Commissioner of › Article 45-02 - Regulation of Insurance Producers, Consultants, and Administrators › Chapter 45-02-04 - Insurance Continuing Education › Section 45-02-04-09.1 - Continuing education due dates

Current through Supplement No. 393, July, 2024
On or before the last day of the month of the licensee's
				  birthday following the two-year anniversary of the issuance of a license and
				  every two years thereafter, an individual resident insurance producer must
				  complete continuing education requirements set out in North Dakota Century Code
				  section 26.1-26-31.1.
General Authority: NDCC 26.1-26-49
Law Implemented: NDCC
					 26.1-26-31.1
North Dakota Administrative Code › Title 45 - Insurance, Commissioner of › Article 45-02 - Regulation of Insurance Producers, Consultants, and Administrators › Chapter 45-02-04 - Insurance Continuing Education › Section 45-02-04-09.2 - Reporting continuing education to commissioner

Current through Supplement No. 393, July, 2024
Continuing education providers are required to report
				  completion of continuing education courses to the commissioner. However, it is
				  the responsibility of the individual resident insurance producer to ensure that
				  the commissioner's records reflect the completion of the required number of
				  continuing education courses on or before the continuing education due date.
				  The insurance producer must correct any discrepancies in the record through the
				  continuing education provider.
General Authority: NDCC 26.1-26-49
Law Implemented: NDCC
					 26.1-26-49
North Dakota Administrative Code › Title 45 - Insurance, Commissioner of › Article 45-02 - Regulation of Insurance Producers, Consultants, and Administrators › Chapter 45-02-04 - Insurance Continuing Education › Section 45-02-04-09.3 - Exemptions from continuing education for limited lines

Current through Supplement No. 393, July, 2024
An insurance producer licensed exclusively for the sale of
				  title insurance, travel or baggage insurance, surety, bail bonds, legal expense
				  insurance, or credit insurance is exempt from continuing education
				  requirements.
General Authority: NDCC 26.1-26-49
Law Implemented: NDCC 26.1
					 -26-31.1(1)
North Dakota Administrative Code › Title 45 - Insurance, Commissioner of › Article 45-02 - Regulation of Insurance Producers, Consultants, and Administrators › Chapter 45-02-04 - Insurance Continuing Education › Section 45-02-04-11 - Nonresident continuing education

Current through Supplement No. 393, July, 2024
A nonresident insurance producer who has satisfied the
				  producer's home state's insurance continuing education requirements and is in
				  good standing in the producer's home state shall electronically submit a
				  uniform application for individual producer license renewal or continuation
				  through the national association of insurance commissioners and pay a biennial
				  continuation fee of twenty-five dollars.
General Authority: NDCC 26.1-26-49
Law Implemented: NDCC 26.1-26-13.4,
					 26.1-26-31.7
North Dakota Administrative Code › Title 45 - Insurance, Commissioner of › Article 45-02 - Regulation of Insurance Producers, Consultants, and Administrators › Chapter 45-02-04 - Insurance Continuing Education › Section 45-02-04-15 - Continuing education for relicensure

Current through Supplement No. 393, July, 2024
A resident insurance producer whose license is voluntarily
				  canceled or whose license is canceled for failure to complete the biennial
				  continuation, may apply within twelve months of the cancellation date for a
				  license by submitting an application form and license fee. The applicant will
				  not be required to retake qualifying examinations if the examination results
				  are still valid pursuant to subsection 7 of section
				  45-02-02-03. However, the
				  applicant must have completed continuing education requirements as though the
				  license had been continuously active throughout the period of cancellation.
General Authority: NDCC 26.1-26-49
Law Implemented: NDCC
					 26.1-26-49
North Dakota Administrative Code › Title 45 - Insurance, Commissioner of › Article 45-03 - Regulation of Insurance Companies › Chapter 45-03-05 - Insurance Holding Company System Model Regulation With Reporting Forms and Instructions › Section 45-03-05-01 - Authority

Current through Supplement No. 393, July, 2024
This chapter is promulgated pursuant to the authority
				  granted by North Dakota Century Code chapter 26.1-10.
General Authority: NDCC 26.1-10-12
Law Implemented: NDCC
					 26.1-10
North Dakota Administrative Code › Title 45 - Insurance, Commissioner of › Article 45-03 - Regulation of Insurance Companies › Chapter 45-03-05 - Insurance Holding Company System Model Regulation With Reporting Forms and Instructions › Section 45-03-05-02 - Purpose

Current through Supplement No. 393, July, 2024
The purpose of this chapter is to set forth rules and
				  procedural requirements which the commissioner deems necessary to carry out the
				  provisions of the North Dakota Insurance Holding Company System Regulatory Act
				  (North Dakota Century Code chapter 26.1-10). The information called for by this
				  chapter is declared to be necessary and appropriate in the public interest and
				  for the protection of policyholders and shareholders in this state.
General Authority: NDCC 26.1-10-12
Law Implemented: NDCC
					 26.1-10
North Dakota Administrative Code › Title 45 - Insurance, Commissioner of › Article 45-03 - Regulation of Insurance Companies › Chapter 45-03-05 - Insurance Holding Company System Model Regulation With Reporting Forms and Instructions › Section 45-03-05-03 - Severability clause

Current through Supplement No. 393, July, 2024
If any provision of this chapter, or the application of this
				  chapter to any person or circumstance, is held invalid, the invalidity shall
				  not affect other provisions or applications of this chapter which can be given
				  effect without the invalid provision or application, and to that end the
				  provisions of this chapter are severable.
General Authority: NDCC 26.1-10-12
Law Implemented: NDCC
					 26.1-10
North Dakota Administrative Code › Title 45 - Insurance, Commissioner of › Article 45-03 - Regulation of Insurance Companies › Chapter 45-03-05 - Insurance Holding Company System Model Regulation With Reporting Forms and Instructions › Section 45-03-05-04 - Forms - General requirements

Current through Supplement No. 393, July, 2024
1.
				Forms A, B, C, D, E, and F are intended to be guides in the preparation of the
				statements required by North Dakota Century Code sections 26.1-10-03,
				26.1-10-03.1, 26.1-10-04, and 26.1-10-05. They are not intended to be blank
				forms which are to be filled in. The statements filed shall contain the numbers
				and captions of all items, but the text of the items may be omitted provided
				the answers are prepared in such a manner as to indicate clearly the scope and
				coverage of the items . All instructions, whether appearing under the items of
				the form or elsewhere in the form, are to be omitted. Unless expressly provided
				otherwise, if any item is inapplicable or the answer thereto is in the
				negative, an appropriate statement to that effect shall be made.
2. Two complete copies of each statement
				including exhibits and all other papers and documents filed as a part of the
				statement shall be filed with the commissioner by personal delivery or mail
				addressed to: Commissioner of Insurance, Fifth Floor, State Capitol, Bismarck,
				North Dakota 58505, Attention: Legal Department. At least one of the copies
				shall be signed in the manner prescribed on the form. Unsigned copies shall be
				conformed. If the signature of any person is affixed pursuant to a power of
				attorney or other similar authority, a copy of the power of attorney or other
				authority shall also be filed with the statement.
3. If an applicant requests a hearing on a
				consolidated basis under subdivision c of subsection 4 of section 26.1-10-03 of
				the North Dakota Century Code. in addition to filing the Form A with the
				commissioner, the applicant shall file a copy of Form A with the national
				association of insurance commissioners in electronic form.
4. Statements should be prepared
				electronically. Statements must be easily readable, and suitable for review and
				reproduction. Debits in credit categories and credits in debit categories shall
				be designated so as to be clearly distinguishable as such on photocopies.
				Statements shall be in the English language and monetary values shall be stated
				in United States currency. If any exhibit or other paper or document filed with
				the statement is in a foreign language, it shall be accompanied by a
				translation into the English language and any monetary value shown in a foreign
				currency normally shall be converted into United States currency.
General Authority:
NDCC 26.1-10-12
Law Implemented:
NDCC 26.1-10-03,
					 26.1-10-04
North Dakota Administrative Code › Title 45 - Insurance, Commissioner of › Article 45-03 - Regulation of Insurance Companies › Chapter 45-03-05 - Insurance Holding Company System Model Regulation With Reporting Forms and Instructions › Section 45-03-05-05 - Forms - Incorporation by reference, summaries, and omissions

Current through Supplement No. 393, July, 2024
1. Information required by any item of Form
				A, Form B, Form D, Form E, or Form F may be incorporated by reference in answer
				or partial answer to any other item. Information contained in any financial
				statement, annual report, proxy statement, statement filed with a governmental
				authority, or any other document may be incorporated by reference in answer or
				partial answer to any item of Form A, Form B, Form D, Form E, or Form F
				provided the document is filed as an exhibit to the statement. Excerpts of
				documents may be filed as exhibits if the documents are extensive. Documents
				currently on file with the commissioner which were filed within three years
				need not be attached as exhibits. References to information contained in
				exhibits or in documents already on file shall clearly identify the material
				and shall specifically indicate that the material is to be incorporated by
				reference in answer to the item. Matter shall not be incorporated by reference
				in any case where the incorporation would render the statement incomplete,
				unclear, or confusing.
2. Where an
				item requires a summary or outline of the provisions of any document, only a
				brief statement shall be made as to the pertinent provisions of the document.
				In addition to the statement, the summary or outline may incorporate by
				reference particular parts of any exhibit or document currently on file with
				the commissioner which were filed within three years and may be qualified in
				its entirety by the reference. In any case where two or more documents required
				to be filed as exhibits are substantially identical in all material respects
				except as to the parties thereto, the dates of execution, or other details, a
				copy of only one of the documents need be filed with a schedule identifying the
				omitted documents and setting forth the material details in which the documents
				differ from the documents a copy of which is filed.
General Authority:
NDCC 26.1-10-12
Law Implemented:
NDCC 26.1-10-03,
					 26.1-10-04
North Dakota Administrative Code › Title 45 - Insurance, Commissioner of › Article 45-03 - Regulation of Insurance Companies › Chapter 45-03-05 - Insurance Holding Company System Model Regulation With Reporting Forms and Instructions › Section 45-03-05-06 - Forms - Information unknown or unavailable and extension of time to furnish

Current through Supplement No. 393, July, 2024
If it is impractical to furnish any required information,
				  document, or report at the time it is required to be filed, there must be filed
				  with the commissioner a separate document:
1. Identifying the information, document, or
				report in question;
2. Stating why
				the filing thereof at the time required is impractical; and
3. Requesting an extension of time for filing
				the information, document, or report to a specified date. The request for
				extension must be deemed granted unless the commissioner, within forty-five
				days after receipt thereof, enters an order denying the request.
General Authority:
NDCC 26.1-10-12
Law Implemented:
NDCC 26.1-10-03,
					 26.1-10-04
North Dakota Administrative Code › Title 45 - Insurance, Commissioner of › Article 45-03 - Regulation of Insurance Companies › Chapter 45-03-05 - Insurance Holding Company System Model Regulation With Reporting Forms and Instructions › Section 45-03-05-07 - Forms - Additional information and exhibits

Current through Supplement No. 393, July, 2024
In addition to the information expressly required to be
				  included in Form A, Form B, Form C, Form D, Form E, and Form F, the
				  commissioner may request further material information, if any, as may be
				  necessary to make the information contained therein not misleading. The person
				  filing may also file the exhibits as it may desire in addition to those
				  expressly required by the statement. The exhibits shall be so marked as to
				  indicate clearly the subject matters to which they refer. Changes to Forms A,
				  B, C, D, E, or F must include on the top of the cover page the phrase: "Change
				  No. (insert number) to" and must indicate the date of the change and not the
				  date of the original filing.
General Authority:
NDCC 26.1-10-12
Law Implemented:
NDCC 26.1-10-03,
					 26.1-10-04
North Dakota Administrative Code › Title 45 - Insurance, Commissioner of › Article 45-03 - Regulation of Insurance Companies › Chapter 45-03-05 - Insurance Holding Company System Model Regulation With Reporting Forms and Instructions › Section 45-03-05-08 - Forms - Amendments

Current through Supplement No. 393, July, 2024
Any amendment for Form A, Form B, Form C, and Form D shall
				  include on the top of the cover page the phrase: "Amendment No. (insert number)
				  to" and shall indicate the date of the amendment and not the date of the
				  original filing.
General Authority: NDCC 26.1-10-12
Law Implemented: NDCC 26.1-10-03,
					 26.1-10-04
North Dakota Administrative Code › Title 45 - Insurance, Commissioner of › Article 45-03 - Regulation of Insurance Companies › Chapter 45-03-05 - Insurance Holding Company System Model Regulation With Reporting Forms and Instructions › Section 45-03-05-09 - Definitions

Current through Supplement No. 393, July, 2024
1. "Executive officer" means chief executive
				officer, chief operating officer, chief financial officer, treasurer,
				secretary, controller, and any other individual performing functions
				corresponding to those performed by the foregoing officers under whatever
				title.
2. "Ultimate controlling
				person" means that person which is not controlled by any other person.
4. Unless the context otherwise
				requires, other terms found in this chapter and in North Dakota Century Code
				section 26.1-10-01 are used as defined in that section. Other nomenclature or
				terminology is according to the Insurance Code, or industry usage if not
				defined in the code.
General Authority:
NDCC 26.1-10-12
Law Implemented:
NDCC
					 26.1-10-01
North Dakota Administrative Code › Title 45 - Insurance, Commissioner of › Article 45-03 - Regulation of Insurance Companies › Chapter 45-03-05 - Insurance Holding Company System Model Regulation With Reporting Forms and Instructions › Section 45-03-05-10 - Subsidiaries of domestic insurers

Current through Supplement No. 393, July, 2024
The authority to invest in subsidiaries under subsection 2
				  of North Dakota Century Code section 26.1-10-02 is in addition to any authority
				  to invest in subsidiaries which may be contained in any other provision of the
				  Insurance Code.
General Authority:
NDCC 26.1-10-12
Law Implemented:
NDCC 26.1-10-02,
					 26.1-10-03
North Dakota Administrative Code › Title 45 - Insurance, Commissioner of › Article 45-03 - Regulation of Insurance Companies › Chapter 45-03-05 - Insurance Holding Company System Model Regulation With Reporting Forms and Instructions › Section 45-03-05-11 - Acquisition of control - Statement filing

Current through Supplement No. 393, July, 2024
A person required to file a statement pursuant to North
				  Dakota Century Code section 26.1-10-03 shall furnish the required information
				  on Form A, hereby made a part of this chapter. The person shall also furnish
				  the required information on Form E, hereby made a part of this chapter and
				  described in section 45-03-05-12.2.
General Authority:
NDCC 26.1-10-12
Law Implemented:
NDCC
					 26.1-10-03
North Dakota Administrative Code › Title 45 - Insurance, Commissioner of › Article 45-03 - Regulation of Insurance Companies › Chapter 45-03-05 - Insurance Holding Company System Model Regulation With Reporting Forms and Instructions › Section 45-03-05-12 - Amendments to Form A

Current through Supplement No. 393, July, 2024
The applicant shall promptly advise the commissioner of any
				  changes in the information so furnished on Form A arising subsequent to the
				  date upon which the information was furnished but prior to the commissioner's
				  disposition of the application.
General Authority:
NDCC 26.1-10-12
Law Implemented:
NDCC 26.1-10-03,
					 26.1-10-04
North Dakota Administrative Code › Title 45 - Insurance, Commissioner of › Article 45-03 - Regulation of Insurance Companies › Chapter 45-03-05 - Insurance Holding Company System Model Regulation With Reporting Forms and Instructions › Section 45-03-05-12.1 - Acquisition of subdivision d of subsection 1 of North Dakota Century Code section 26.1-10-03 insurers

Current through Supplement No. 393, July, 2024
1. If
				the person being acquired is deemed to be a "domestic insurer" solely because
				of the provisions of subdivision d of subsection 1 of North Dakota Century Code
				section 26.1-10-03, the name of the domestic insurer on the cover page must be
				indicated as follows:
"ABC Insurance Company, a subsidiary of XYZ Holding
				  Company".
2. If subdivision
				d of subsection 1 of North Dakota Century Code section 26.1-10-03 insurer is
				being acquired, references to "the insurer" contained in Form A must refer to
				both the domestic subsidiary insurer and the person being acquired.
General Authority:
NDCC 28-32
Law Implemented:
NDCC 26.1-02-02,
					 26.1-06.1-01, 26.1-10-05
North Dakota Administrative Code › Title 45 - Insurance, Commissioner of › Article 45-03 - Regulation of Insurance Companies › Chapter 45-03-05 - Insurance Holding Company System Model Regulation With Reporting Forms and Instructions › Section 45-03-05-12.2 - Preacquisition notification

Current through Supplement No. 393, July, 2024
If a domestic insurer, including any person controlling a
				  domestic insurer, is proposing a merger or acquisition pursuant to subdivision
				  a of subsection 1 of North Dakota Century Code section 26.1-10-03, that person
				  shall file a preacquisition notification Form E, which was developed pursuant
				  to subdivision a of subsection 3 of North Dakota Century Code section
				  26.1-10-03.1.
Additionally, if a nondomiciliary insurer licensed to do
				  business in this state is proposing a merger or acquisition pursuant to North
				  Dakota Century Code section 26.1-10-03.1, that person shall file a
				  preacquisition notification Form E. No preacquisition notification form need be
				  filed if the acquisition is beyond the scope of North Dakota Century Code
				  section 26.1-10-03.1 as set forth in subdivision b of subsection 2 of North
				  Dakota Century Code section 26.1-10-03.1.
In addition to the information required by Form E, the
				  commissioner may wish to require an expert opinion as to the competitive impact
				  of the proposed acquisition.
General Authority:
NDCC 28-32
Law Implemented:
NDCC
					 26.1-10
North Dakota Administrative Code › Title 45 - Insurance, Commissioner of › Article 45-03 - Regulation of Insurance Companies › Chapter 45-03-05 - Insurance Holding Company System Model Regulation With Reporting Forms and Instructions › Section 45-03-05-13 - Annual registration of insurers - Statement filing

Current through Supplement No. 393, July, 2024
An insurer required to file an annual registration statement
				  pursuant to North Dakota Century Code section 26.1-10-04 shall furnish the
				  required information on Form B, hereby made a part of this
				  chapter.
General Authority:
NDCC 26.1-10-12
Law Implemented:
NDCC
					 26.1-10-04
North Dakota Administrative Code › Title 45 - Insurance, Commissioner of › Article 45-03 - Regulation of Insurance Companies › Chapter 45-03-05 - Insurance Holding Company System Model Regulation With Reporting Forms and Instructions › Section 45-03-05-13.1 - Summary of changes to registration - Statement filing

Current through Supplement No. 393, July, 2024
An insurer required to file an annual registration statement
				  pursuant to North Dakota Century Code section 26.1-10-04 is also required to
				  furnish information required on Form C, hereby made a part of this
				  chapter.
General Authority:
NDCC 28-32
Law Implemented:
NDCC
					 26.1-10-04
North Dakota Administrative Code › Title 45 - Insurance, Commissioner of › Article 45-03 - Regulation of Insurance Companies › Chapter 45-03-05 - Insurance Holding Company System Model Regulation With Reporting Forms and Instructions › Section 45-03-05-14 - Amendments to Form B

Current through Supplement No. 393, July, 2024
1. An amendment to
				Form B must be filed within fifteen days after the end of the month in which
				there is a material change to the information provided in the annual
				registration statement.
2.
				Amendments must be filed in the Form B format with only those items which are
				being amended reported. Each such amendment must include at the top of the
				cover page: "Amendment No. (insert number) to Form B for (insert year)" and
				must indicate the date of the change and not the date of the original
				filings.
General Authority:
NDCC 26.1-10-12
Law Implemented:
NDCC
					 26.1-10-04
North Dakota Administrative Code › Title 45 - Insurance, Commissioner of › Article 45-03 - Regulation of Insurance Companies › Chapter 45-03-05 - Insurance Holding Company System Model Regulation With Reporting Forms and Instructions › Section 45-03-05-15 - Alternative and consolidated registrations

Current through Supplement No. 393, July, 2024
1. Any authorized insurer may file a
				registration statement on behalf of any affiliated insurer or insurers which
				are required to register under North Dakota Century Code section 26.1-10-04. A
				registration statement may include information not required by North Dakota
				Century Code chapter 26.1-10 regarding any insurer in the insurance holding
				company system even if the insurer is not authorized to do business in this
				state. In lieu of filing a registration statement on Form B, the authorized
				insurer may file a copy of the registration statement or similar report which
				it is required to file in its state of domicile, provided:
a. The statement or report contains
				substantially similar information required to be furnished on Form B;
				and
b. The filing insurer is the
				principal insurance company in the insurance holding company system.
North Dakota Administrative Code › Title 45 - Insurance, Commissioner of › Article 45-03 - Regulation of Insurance Companies › Chapter 45-03-05 - Insurance Holding Company System Model Regulation With Reporting Forms and Instructions › Section 45-03-05-17 - Disclaimers and termination of registration

Current through Supplement No. 393, July, 2024
1. A disclaimer of affiliation or a request
				for termination of registration claiming that a person does not, or will not
				upon the taking of some proposed action, control another person (hereinafter
				referred to as the subject) shall contain the following information:
a. The number of authorized, issued and
				outstanding voting securities of the subject.
b. With respect to the person whose control
				is denied and all affiliates of that person, the number and percentage of
				shares of the subject's voting securities which are held of record or known to
				be beneficially owned, and the number of the shares concerning which there is a
				right to acquire, directly or indirectly.
c. All material relationships and bases for
				affiliation between the subject and the person whose control is denied and all
				affiliates of that person.
d. A
				statement explaining why that person should not be considered to control the
				subject.
North Dakota Administrative Code › Title 45 - Insurance, Commissioner of › Article 45-03 - Regulation of Insurance Companies › Chapter 45-03-05 - Insurance Holding Company System Model Regulation With Reporting Forms and Instructions › Section 45-03-05-17.1 - Transactions subject to prior notice - Notice filing

Current through Supplement No. 393, July, 2024
1. An insurer required to give notice of a
				proposed transaction pursuant to North Dakota Century Code section 26.1-10-05
				shall furnish the required information on Form D, hereby made a part of these
				rules.
2. Agreements for
				cost-sharing services and management services must at a minimum and as
				applicable:
a. Identify the person providing
				services and the nature of the services;
b. Set forth the methods to allocate
				costs;
c. Require timely
				settlement, not less frequently than on a quarterly basis, and compliance with
				the requirements in the national association of insurance commissioners
				accounting practices and procedures manual;
d. Prohibit advancement of funds by the
				insurer to the affiliate except to pay for services defined in the
				agreement;
e. State that the
				insurer will maintain oversight for functions provided to the insurer by the
				affiliate and that the insurer will monitor services annually for quality
				assurance;
f. Define books and
				records of the insurer to include all books and records developed or maintained
				under or related to the agreement;
g. Specify that all books and records of the
				insurer are and remain the property of the insurer and are subject to control
				of the insurer;
h. State that all
				funds and invested assets of the insurer are the exclusive property of the
				insurer, held for the benefit of the insurer and are subject to the control of
				the insurer;
i. Include standards
				for termination of the agreement with and without cause;
j. Include provisions for indemnification of
				the insurer in the event of gross negligence or willful misconduct on the part
				of the affiliate providing the services;
k. Specify that, if the insurer is placed in
				receivership or seized by the commissioner under North Dakota Century Code
				chapter 26.1-06.1:
(1) All of the rights of
				the insurer under the agreement extend to the receiver or commissioner;
				and
(2) All books and records will
				immediately be made available to the receiver or the commissioner, and shall be
				turned over to the receiver or commissioner immediately upon the receiver's or
				the commissioner's request;
I. Specify that the affiliate has no
				automatic right to terminate the agreement if the insurer is placed in
				receivership pursuant to North Dakota Century Code chapter 26.1-06.1;
				and
m. Specify that the affiliate
				will continue to maintain any systems, programs, or other infrastructure
				notwithstanding a seizure by the commissioner under North Dakota Century Code
				chapter 26.1-06.1, and will make them available to the receiver, for so long as
				the affiliate continues to receive timely payment for services
				rendered.
North Dakota Administrative Code › Title 45 - Insurance, Commissioner of › Article 45-03 - Regulation of Insurance Companies › Chapter 45-03-05 - Insurance Holding Company System Model Regulation With Reporting Forms and Instructions › Section 45-03-05-17.2 - Enterprise risk report

Current through Supplement No. 393, July, 2024
The ultimate controlling person of an insurer required to
				  file an enterprise risk report pursuant to subsection 12 of North Dakota
				  Century Code section 26.1-10-04 shall furnish the required information on Form
				  F, hereby made a part of this chapter.
General Authority:
NDCC 28-32
Law Implemented:
NDCC
					 26.1-10
North Dakota Administrative Code › Title 45 - Insurance, Commissioner of › Article 45-03 - Regulation of Insurance Companies › Chapter 45-03-05 - Insurance Holding Company System Model Regulation With Reporting Forms and Instructions › Section 45-03-05-18 - Extraordinary dividends and other distributions

Current through Supplement No. 393, July, 2024
1. Requests for approval of extraordinary
				dividends or any other extraordinary distribution to shareholders shall include
				the following:
a. The amount of the proposed
				dividend;
b. The date established
				for payment of the dividend;
c. A
				statement as to whether the dividend is to be in cash or other property and, if
				in property, a description of the property, its cost, and its fair market value
				together with an explanation of the basis for valuation;
d. A copy of the calculations determining
				that the proposed dividend is extraordinary. The workpaper must include the
				following information:
(1) The amounts, dates,
				and form of payment of all dividends or distributions (including regular
				dividends but excluding distributions of the insurer's own securities) paid
				within the period of twelve consecutive months ending on the date fixed for
				payment of the proposed dividend for which approval is sought and commencing on
				the day after the same day of the same month in the last preceding
				year;
(2) Surplus as regards
				policyholders (total capital and surplus) as of the next preceding December
				thirty-first;
(3) If the insurer is
				a life insurer, the net gain from operations for the twelve-month period ending
				the next preceding December thirty-first;
(4) If the insurer is not a life insurer, the
				net income less realized capital gains for the twelve-month period ending the
				next preceding December thirty-first and the two preceding twelve-month
				periods; and
(5) If the insurer is
				not a life insurer, the dividends paid to stockholders excluding distributions
				of the insurer's own securities in the preceding two calendar years.
e. A balance sheet and statement
				of income for the period intervening from the last annual statement filed with
				the commissioner and the end of the month preceding the month in which the
				request for dividend approval is submitted; and
f. A brief statement as to the effect of the
				proposed dividend upon the insurer's surplus and the reasonableness of surplus
				in relation to the insurer's outstanding liabilities and the adequacy of
				surplus relative to the insurer's financial needs.
North Dakota Administrative Code › Title 45 - Insurance, Commissioner of › Article 45-03 - Regulation of Insurance Companies › Chapter 45-03-05 - Insurance Holding Company System Model Regulation With Reporting Forms and Instructions › Section 45-03-05-19 - Adequacy of surplus

Current through Supplement No. 393, July, 2024
The factors set forth in subsection 6 of North Dakota Century
				  Code section 26.1-10-05 are not intended to be an exhaustive list. In
				  determining the adequacy and reasonableness of an insurer's surplus, no single
				  factor is controlling. The commissioner, instead, will consider the net effect
				  of all of these factors plus other factors bearing on the financial condition
				  of the insurer. In comparing the surplus maintained by other insurers, the
				  commissioner will consider the extent to which each of these factors varies
				  from company to company and in determining the quality and liquidity of
				  investments in subsidiaries, the commissioner will consider the individual
				  subsidiary and may discount or disallow its valuation to the extent that the
				  individual investments so warrant.
General Authority:
NDCC 26.1-10-12
Law Implemented:
NDCC
					 26.1-10-05
North Dakota Administrative Code › Title 45 - Insurance, Commissioner of › Article 45-03 - Regulation of Insurance Companies › Chapter 45-03-05 - Insurance Holding Company System Model Regulation With Reporting Forms and Instructions › Form E - PRE-ACQUISITION NOTIFICATION FORM REGARDING THE POTENTIAL COMPETITIVE IMPACT OF A PROPOSED MERGER OR ACQUISITION BY A NON-DOMICILIARY INSURER DOING BUSINESS IN THIS STATE OR BY A DOMESTIC INSURER

Current through Supplement No. 393, July, 2024
___________________________________________
Name of Applicant
___________________________________________
Name of Other Person Involved in Merger or
				  Acquisition
Filed with the Insurance Department of
Dated: ___________________ , 20 ___
Name, title, address, and telephone number of person
				  completing this statement:
ITEM 1. NAME AND ADDRESS
State the names and addresses of the persons who hereby
				  provide notice of their involvement in a pending acquisition or change in
				  corporate control.
ITEM 2. NAME AND ADDRESSES OF AFFILIATED COMPANIES
State the names and addresses of the persons affiliated with
				  those listed in Item 1. Describe their affiliations.
ITEM 3. NATURE AND PURPOSE OF THE PROPOSED MERGER OR
				  ACQUISITION
State the nature and purpose of the proposed merger or
				  acquisition.
ITEM 4. NATURE OF BUSINESS
State the nature of the business performed by each of the
				  persons identified in response to Item 1 and Item 2.
ITEM 5. MARKET AND MARKET SHARE
State specifically what market and market share in each
				  relevant insurance market the persons identified in Item 1 and Item 2 currently
				  enjoy in this state. Provide historical market and market share data for each
				  person identified in Item 1 and Item 2 for the past five years and identify the
				  source of the data. Provide a determination as to whether the proposed
				  acquisition or merger, if consummated, would violate the competitive standards
				  of the state as stated in subsection 4 of North Dakota Century Code Section
				  26.1-10-03.1. If the proposed acquisition or merger would violate competitive
				  standards, provide justification of why the acquisition or merger would not
				  substantially lessen competition or create a monopoly in the state.
For purposes of this question, market means direct written
				  insurance premium in this state for a line of business as contained in the
				  annual statement required to be filed by insurers licensed to do business in
				  this state.
North Dakota Administrative Code › Title 45 - Insurance, Commissioner of › Article 45-03 - Regulation of Insurance Companies › Chapter 45-03-06 - Premium Tax Payments - Estimates › Section 45-03-06-01 - Application of chapter - Exceptions

Current through Supplement No. 393, July, 2024
This chapter applies to all companies doing business in the
				  state as described in North Dakota Century Code section 26.1-03-17 and applies
				  to all business conducted in this state, except business specifically exempted
				  by statute, i.e., annuities (North Dakota Century Code section 26.1-03-17) and
				  North Dakota uniform group insurance program (North Dakota Century Code chapter
				  54-52.1).
General Authority: NDCC 26.1-01-08
Law Implemented: NDCC
					 26.1-03-17