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An insurance company shall give at least sixty days' notice to the commissioner and the insured by registered mail return receipt requested before cancellation of an insurance policy required in section 60-02.1-21. Unless the grain buyer files proof of new or renewed insurance at least thirty days before the existing policy ceases, the commissioner, without hearing, shall immediately suspend the grain buyer's license and the suspension may not be removed until a new policy has been filed and approved by the commissioner.
Cite this article: FindLaw.com - North Dakota Century Code Title 60. Warehousing and Deposits § 60-02.1-22. Insurance--Cancellation--Suspension of license - last updated January 01, 2020 | https://codes.findlaw.com/nd/title-60-warehousing-and-deposits/nd-cent-code-sect-60-02-1-22.html
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