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Current as of January 01, 2024 | Updated by Findlaw Staff
1. A discount plan organization shall file an annual report with the commissioner in the form prescribed by the commissioner no later than March first.
2. The report must include:
a. If different from the initial application for registration or at the time of renewal of registration or the last annual report, as appropriate, a list of the names and residence addresses of all persons responsible for the conduct of the organization's affairs, together with a disclosure of the extent and nature of any contracts or arrangements with these persons and the discount plan organization, including any possible conflict of interest;
b. The number of discount plan members in the state; and
c. Any other information relating to the performance of the discount plan organization which the commissioner may require.
3. Any discount plan organization that fails to file an annual report in the form and within the time required by this section:
a. Accrues monetary penalties of:
(1) Up to five hundred dollars each day for the first ten days during which the violation continues; and
(2) Up to one thousand dollars each day after the first ten days during which the violation continues; and
b. Upon notice by the commissioner, lose the organization's authority to enroll new members or do business in this state while the violation continues.
Cite this article: FindLaw.com - North Dakota Century Code Title 26.1. Insurance § 26.1-53.1-23. Annual reports - last updated January 01, 2024 | https://codes.findlaw.com/nd/title-26-1-insurance/nd-cent-code-sect-26-1-53-1-23/
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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