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A domestic insurer, upon the approval of the commissioner, may transfer its domicile to another state in which it is admitted to transact the business of insurance. Upon transfer, the insurer ceases to be a domestic insurer and, if qualified, may be admitted to this state as a foreign insurer. The commissioner shall approve a proposed transfer unless the commissioner determines the transfer is not in the interests of the policyholders of the state.
Cite this article: FindLaw.com - North Dakota Century Code Title 26.1. Insurance § 26.1-05-07.3. Conversion to foreign insurer - last updated January 01, 2020 | https://codes.findlaw.com/nd/title-26-1-insurance/nd-cent-code-sect-26-1-05-07-3/
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