Section 26.1-44-03.2 - Domestic surplus lines insurers1. A North Dakota domestic insurer may be designated a domestic surplus lines insurer if: a. The insurer possesses a policyholder surplus of at least fifteen million dollars;b. The designation is in compliance with a resolution of the insurer's board of directors; andc. The commissioner has provided written approval of the designation.2. A domestic surplus lines insurer may write surplus lines insurance in North Dakota and any other jurisdiction in which the insurer is eligible. A domestic surplus lines insurer may insure in this state any risk if:a. Produced pursuant to chapter 26.1-44; andb. The premium is subject to surplus lines premium tax pursuant to section 26.1-44-03.1.3. For purposes of the federal Nonadmitted and Reinsurance Reform Act of 2010 [ 15 U.S.C. 8201 et seq.], a domestic surplus lines insurer is considered a nonadmitted insurer as defined under that Act, with respect to risks insured in this state.4. A domestic surplus lines insurer may not issue a policy designed to satisfy the motor vehicle financial responsibility requirements in chapter 26.1-41 or any other law mandating insurance coverage by a licensed insurance company.5. Except as specifically exempted from such requirements, a domestic surplus lines insurer is subject to compliance with all financial examination and solvency requirements that apply to domestic insurers under chapter 26.1-03 regarding examinations and reports.6. A domestic surplus lines insurer is not subject to the provisions of chapter 26.1-38.1 regarding the life and health insurance guaranty association nor to chapter 26.1-39 regarding property and casualty insurance.Amended by S.L. 2019, ch. 248 (HB 1075),§ 3, eff. 3/8/2019.Added by S.L. 2013, ch. 237 (HB 1181),§ 1, eff. 8/1/2013.