N.D. Cent. Code § 26.1-53.1-05
Current through the 2023 Legislative Sessions
Each registered discount plan organization shall maintain in force a surety bond in the organization's own name in an amount not less than thirty-five thousand dollars to be used in the discretion of the commissioner to protect the financial interest of members. The bond must be issued by an insurance company licensed to do business in this state. Initially, a copy of the bond or a statement identifying the depository, trustee, and account number of the surety account, and for renewal proof of annual renewal of the bond or maintenance of the surety account, must be filed with the commissioner.
N.D.C.C. § 26.1-53.1-05