N.D. Admin. Code 45-09-01-03

Current through Supplement No. 395, January, 2025

Section 45-09-01-03 - Surplus lines insurance producer must conduct search

The licensed surplus lines insurance producer seeking the placement of nonadmitted insurance must conduct a diligent search to ascertain whether the insurance, indemnity contract, or surety bond can be procured from a company authorized to do business in this state. The surplus lines insurance producer may rely on a diligent search done by a licensed insurance producer or the insured if the surplus lines insurance producer deems it sufficient.

N.D. Admin Code 45-09-01-03

Effective January 1, 1982; amended effective December 1, 2001; July 1, 2012.

Amended by Administrative Rules Supplement 2020-380, April 2021, effective 4/1/2021.

Amended by Administrative Rules Supplement 2023-391, January 2024, effective 1/1/2024.

General Authority: NDCC 26.1-44-09

Law Implemented: NDCC 26.1-44-02