Section 45-02-02-06 - Appointment and termination procedures1. The appointment or termination of an insurance producer must be filed with the department on either a form prescribed by the commissioner or electronically through the national association of insurance commissioners' subsidiary. The insurer shall pay an appointment fee for each insurance producer appointed pursuant to North Dakota Century Code section 26.1-01-07. 2. An insurer shall file with the department a notice of appointment within thirty days from the later of the date the agency contract is executed or the first insurance application is submitted to the insurer. The date of the appointment must include the month, day, and year. 3. An insurer shall file the notice of termination of its agency relationship with an insurance producer within thirty days following the effective date of the termination. Terminations for cause shall be submitted to the department in accordance with the requirements of North Dakota Century Code section 26.1-26-34. The insurer is responsible for notifying the insurance producer of the termination in accordance with North Dakota Century Code section 26.1-26-34. 4. Failure to timely file appointment or termination notifications may subject an insurer to sanctions under North Dakota Century Code title 26.1. N.D. Admin Code 45-02-02-06
Effective September 1, 1983; amended effective October 1, 1984; January 1, 2000; December 1, 2001.General Authority: NDCC 26.1-26-49
Law Implemented: NDCC 26.1-26-08, 26.1-26-12, 26.1-26-13, 26.1-26-31, 26.1-26-32