Optional membership in insurance guaranty association
N.D. Cent. Code § 26.1-14-15
in effect26.1-14-15. Optional membership in insurance guaranty association
The company may not be a member insurer under chapter 26.1-42.1 unless the board of
directors by appropriate resolution, certified to and filed with the commissioner on or before
December thirty-first following the issuance of its certificate of authority, elects to become a
member. If there is an affirmative election, the company becomes a member of the insurance
guaranty association effective July first of the following year. The election is irrevocable. In
absence of a timely election, no policyholder, claimant, or creditor of the company may receive
any payment by the insurance guaranty association.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://ndlegis.gov/cencode/t26-1c14.pdf#nameddest=26p1-14-15Fetched: 10/16/2026