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Current as of January 01, 2024 | Updated by Findlaw Staff
Any public or private corporation, limited liability company, board, or association in this state or elsewhere may make applications and enter into agreements for, and hold, policies in any mutual insurance company organized under this chapter. Any officer, stockholder, trustee, manager, member, governor, or legal representative of the corporation, limited liability company, board, association, or the representative of an estate may be recognized as acting for or on its behalf for the purpose of the membership but is not liable personally upon the insurance contract by reason of acting in the representative capacity. The right of any corporation or limited liability company organized under the laws of this state to participate as a member of any mutual insurance company is declared to be incidental to the purpose for which the corporation or limited liability company is organized and granted as fully as the rights and powers expressly conferred upon it.
Cite this article: FindLaw.com - North Dakota Century Code Title 26.1. Insurance § 26.1-12-15. Corporations, limited liability companies, associations, boards, and estates may become member of mutual insurance company--Rights and liabilities - last updated January 01, 2024 | https://codes.findlaw.com/nd/title-26-1-insurance/nd-cent-code-sect-26-1-12-15/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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