North Dakota Century Code

Chapter 26.1-12

Incorporated Mutual Insurance Companies

Section Section Name
26.1-12-01 Organization of mutual insurance company ‑ Minimum number of members
26.1-12-02 Corporate name ‑ Restrictions
26.1-12-03 Articles of incorporation ‑ Contents
26.1-12-04 Articles of incorporation ‑ Filing ‑ Issuance of certificate
26.1-12-05 Legal existence ‑ Adoption of bylaws ‑ Transaction of business
26.1-12-06 Bylaws of mutual company ‑ Meetings ‑ Notice ‑ Quorum
26.1-12-07 Amendment of articles of incorporation ‑ Amendment of bylaws ‑ Extension of corporate existence
26.1-12-08 License required ‑ Prerequisites to issuance of license
26.1-12-09 Temporary capital on organization of mutual life insurance company ‑ Retirement
26.1-12-10 Mutual life insurance company ‑ Amount of subscribed insurance required ‑ Surplus required
26.1-12-11 Authority to insure or reinsure ‑ Types of insurance open to mutual insurance company
26.1-12-11.1 Authority to define products
26.1-12-12 Compliance with general insurance laws ‑ Provisions or conditions in policy
26.1-12-13 Applicability of general insurance laws to mutual companies
26.1-12-14 Membership in domestic mutual insurance company ‑ Votes of members ‑ Notice of meetings
26.1-12-15 Corporations, limited liability companies, associations, boards, and estates may become member of mutual insurance company ‑ Rights and liabilities
26.1-12-16 Vote by proxy permitted ‑ Manner of voting by proxy
26.1-12-17 Members of mutual company entitled to share of net profits
26.1-12-18 Premiums and contingent liabilities to be stated in bylaws and on policy ‑ Collection of premiums
26.1-12-19 Nonpayment of premiums and contingent liabilities ‑ Effect ‑ Continuation of liability on mortgage clause policy
26.1-12-20 Separate reserves to be maintained for each kind of insurance written by mutual insurance company
26.1-12-21 Reserve fund may be established ‑ Limitation ‑ Use
26.1-12-22 Investments
26.1-12-23 Deficiency in assets ‑ Assessments required
26.1-12-24 Making premium reserve good ‑ Assessments ‑ Cancellation of policies ‑ Reinsurance
26.1-12-25 Directors and treasurer of mutual insurance company personally liable for not making and collecting assessments
26.1-12-26 Advance to mutual insurance company ‑ Repayment ‑ Reporting ‑ Commission or promotion expense
26.1-12-27 Licensing foreign mutual insurance company ‑ Prerequisites
26.1-12-28 Annual statements and examinations of mutual insurance companies
26.1-12-29 Dividends payable by mutual insurance company
26.1-12-30 Determination of dividends
26.1-12-31 Taxable premiums of mutual insurance company
26.1-12-32 Demutualization of domestic mutual insurance companies ‑ Rules