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North Dakota Century Code Title 26.1. Insurance § 26.1-05-02. Organization of domestic stock company--Number of persons required--Authorized lines

Current as of January 01, 2024 | Updated by Findlaw Staff

Any number of persons not less than seven may form a corporation on the stock plan to carry on one or more of the following lines of insurance:

1. Life and annuity means insurance coverage on human lives, including benefits of endowment, annuities, and credit life.

2. Accident and health means insurance coverage for sickness, disease, injury, accidental death, and disability.

3. Property means insurance coverage for direct and consequential loss of or damage to property of every kind.

4. Casualty means insurance coverage against legal liability, including that for death, injury, or disability or damage to real or personal property.

5. Variable life and annuity means insurance coverage provided under variable life insurance contracts, variable annuities, or any other life insurance or annuity that reflects the investment experience of a separate account.

A stock insurance company incorporated under this chapter may carry the lines of insurance mentioned in this section which have been expressed in its articles of incorporation.

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Cite this article: FindLaw.com - North Dakota Century Code Title 26.1. Insurance § 26.1-05-02. Organization of domestic stock company--Number of persons required--Authorized lines - last updated January 01, 2024 | https://codes.findlaw.com/nd/title-26-1-insurance/nd-cent-code-sect-26-1-05-02/

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