North Dakota Century Code Title 26.1. Insurance § 26.1-33.4-03. License suspension, revocation, or refusal to renew

a. There was any material misrepresentation in the application for the license;

b. The licensee or any officer, partner, member, or director has been guilty of fraudulent or dishonest practices, is subject to a final administrative action, or is otherwise shown to be untrustworthy or incompetent to act as a licensee;

c. The provider demonstrates a pattern of unreasonably withholding payments to policyowners;

d. The licensee no longer meets the requirements for initial licensure;

e. The licensee or any officer, partner, member, or director has been convicted of a felony or of any misdemeanor of which criminal fraud is an element; or the licensee has pleaded guilty or nolo contendere with respect to any felony or any misdemeanor of which criminal fraud or moral turpitude is an element, regardless whether a judgment of conviction has been entered by the court;

f. The provider has entered any life settlement contract that has not been approved pursuant to this chapter;

g. The provider has failed to honor contractual obligations set out in a life settlement contract;

h. The provider has assigned, transferred, or pledged a settled policy to a person other than a provider licensed in this state, a purchaser, an accredited investor or qualified institutional buyer as defined respectively in regulation D, rule 501 or rule 144A of the federal Securities Act of 1933, as amended [15 U.S.C. 77a et seq.], financing entity, special purpose entity, or related provider trust; or

i. The licensee or any officer, partner, member, or key management personnel has violated any of the provisions of this chapter.