Section 45-03-24-03 - RequirementsThe commissioner may approve a transition plan temporarily waiving some or all of the requirements of North Dakota Century Code chapter 26.1-55 if:
1. The company demonstrates and the commissioner determines implementation of the requirements of chapter 26.1-55 will cause legitimate financial hardship;2. The insurance company transition plan is submitted to the commissioner at least six months prior to the waiver date requested; and3. The transition plan includes a timeline to convert electronic records and implement electronic searches within a reasonable time as determined by the commissioner.N.D. Admin Code 45-03-24-03
Amended by Administrative Rules Supplement 2014-352, April 2014, effective April 1, 2014. .General Authority: NDCC 28-32-02
Law Implemented: NDCC 26.1-55