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Current as of January 01, 2024 | Updated by FindLaw Staff
It is unlawful for any insurance company, or any insurance producer therefor within this state, to take or procure to be taken upon the property to be insured, or upon any other property, a security agreement securing the payment of the premium due or to become due, including policy fees, or any part thereof, unless the security agreement is printed or written upon a paper which is separate and distinct from the application. Any security agreement given in violation of this section is void. Any insurance company violating this section is guilty of a class A misdemeanor and forfeits its right to do business in this state.
Cite this article: FindLaw.com - North Dakota Century Code Title 26.1. Insurance § 26.1-24-08. Security agreement to secure premium payment must be in separate instrument--Penalty - last updated January 01, 2024 | https://codes.findlaw.com/nd/title-26-1-insurance/nd-cent-code-sect-26-1-24-08/
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 or via Westlaw before relying on it for your legal needs.
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