N.D. Cent. Code ch. 26.1-07 – Consolidation or Reinsurance of Domestic Companies | Midpage

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North Dakota Century Code

Chapter 26.1-07

N.D. Cent. Code ch. 26.1-07

Consolidation or Reinsurance of Domestic Companies

26.1-07-01Domestic companies - Consolidation - Reinsurance 26.1-07-02Petition for allowance of consolidation or reinsurance 26.1-07-03Profit by officer or employee prohibited 26.1-07-04Notice of petition for consolidation or reinsurance 26.1-07-05Commissioner to hear petition - General duties 26.1-07-05.1Hearing on petition - General duties of commissioner 26.1-07-06Commissioner may compel attendance of witnesses - Policyholders and stockholders may appear 26.1-07-07Expenses paid by petitioner 26.1-07-08Insurance companies subject to dissolution provisions 26.1-07-09Grounds upon which commissioner may petition for dissolution of company - Representation by attorney general 26.1-07-10Petition for dissolution of company when officer refuses to give information 26.1-07-11Preliminary hearing on petition - Transfer of proceedings - Bond 26.1-07-12Injunction against transaction of business - Procedure - Operation of company 26.1-07-13Commissioner to be appointed receiver 26.1-07-14Court may order liquidation of company - Commissioner to direct liquidation - Procedure 26.1-07-15Commissioner may appoint special deputies and employ counsel in receivership proceedings - Compensation - Powers 26.1-07-16Offset - Limitations 26.1-07-17Priority of distribution of assets 26.1-07-18Powers and duties of commissioner and deputies in receivership proceedings - Assessments - Actions 26.1-07-19Receiver may not increase liabilities of company - Exception 26.1-07-20Report of dissolutions and receivership made by commissioner 26.1-07-21Penalty