N.D. Admin. Code 45-03-07-06

Current through Supplement No. 394, October, 2024

Section 45-03-07-06 - Withdrawal of approval of reinsurer

The commissioner may withdraw approval if at any time the commissioner has reason to believe that any reinsurer:

1. Is in unsound financial condition;

2. Is no longer eligible under North Dakota Century Code section 26.1-02-20 or this chapter; or

3. Has willfully violated the laws of this state.

The commissioner shall promptly mail notice of such withdrawal to the reinsurer and to each licensed insurer whose most recent annual statement shows it was reinsured by such reinsurer.

N.D. Admin Code 45-03-07-06

Effective January 1, 1984.

General Authority: NDCC 26.1-01-08

Law Implemented: NDCC 26.1-02-20