Statutes, codes, and regulations
North Dakota Administrative Code
Title 45 - Insurance, Commissioner ofArticle 45-03 - Regulation of Insurance Companies
Chapter 45-03-21 - Demutualization
Section 45-03-21-12 - Stock acquisition - Limitations

N.D. Admin. Code 45-03-21-12

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Current through Supplement No. 394, October, 2024
Section 45-03-21-12 - Stock acquisition - Limitations

The converted insurer may not, for at least three years following the demutualization, repurchase any of its common shares except pursuant to a pro rata tender offer to all shareholders.

N.D. Admin Code 45-03-21-12

Effective February 1, 2000.

General Authority: NDCC 26.1-12-32

Law Implemented: NDCC 26.1-12-32