Statutes, codes, and regulations
North Dakota Administrative Code
Title 45 - Insurance, Commissioner ofArticle 45-02 - Regulation of Insurance Producers, Consultants, and Administrators
Chapter 45-02-02 - Licensing of Insurance Producers, Surplus Lines Insurance Producers, and Consultants
Section 45-02-02-14.1 - Client loans to licensed producers and consultants prohibited - Exceptions

N.D. Admin. Code 45-02-02-14.1

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Current through Supplement No. 395, January, 2025
Section 45-02-02-14.1 - Client loans to licensed producers and consultants prohibited - Exceptions

A licensed insurance producer or consultant may not solicit or accept a loan from an individual with whom the insurance producer or consultant came into contact in the course of the person's insurance business, or sold an insurance policy to, within the past ten years. This does not prohibit a licensed insurance producer or consultant from accepting loans from financial institutions; immediate family members, which shall mean only a spouse, parents, siblings, and children; or other loans upon the prior written approval of the insurance commissioner.

N.D. Admin Code 45-02-02-14.1

Effective November 1, 1987; amended effective December 1, 2001.

General Authority: NDCC 26.1-25-49

Law Implemented: NDCC 26.1-26-42(6)