26.1-30.1-06. Nonrenewal of commercial insurance policies - Notice required - Exceptions.

1. An insurer shall renew the policy, unless at least sixty days prior to the date of expiration provided in the policy, a notice of intention not to renew the policy beyond the agreed expiration date is made to the policyholder. The insurer shall include a statement of the reasons for a nonrenewal with the notice.

2. This section does not apply if the policyholder has insured elsewhere, has accepted replacement coverage, or has requested or agreed to nonrenewal.