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Current as of January 01, 2024 | Updated by Findlaw Staff
If the commissioner has reason to believe that a controlling insurance broker has committed or is committing an act which could be determined to be a violation, and that the violation substantially contributed to the insolvency of a controlled insurer, the commissioner or receiver may maintain a civil action against the controlling insurance broker for all damages caused by the insurance broker's acts.
Cite this article: FindLaw.com - North Dakota Century Code Title 26.1. Insurance § 26.1-26.5-05. Liability of controlling insurance broker in the event of insolvency of controlled insurer - last updated January 01, 2024 | https://codes.findlaw.com/nd/title-26-1-insurance/nd-cent-code-sect-26-1-26-5-05/
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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