Statutes, codes, and regulations
North Dakota Century Code
Title 26.1 - INSURANCE
Chapter 26.1-26.5 - INSURANCE BROKER CONTROLLED INSURER
Section 26.1-26.5-05 - Liability of controlling insurance broker in the event of insolvency of controlled insurer

N.D. Cent. Code § 26.1-26.5-05

Download
PDF
Current through 2023 Legislative Sessions
Section 26.1-26.5-05 - Liability of controlling insurance broker in the event of insolvency of controlled insurer

If the commissioner has reason to believe that a controlling insurance broker has committed or is committing an act which could be determined to be a violation, and that the violation substantially contributed to the insolvency of a controlled insurer, the commissioner or receiver may maintain a civil action against the controlling insurance broker for all damages caused by the insurance broker's acts.

N.D.C.C. § 26.1-26.5-05