North Dakota Administrative Code
Title 45 - Insurance, Commissioner of
Article 45-03 - Regulation of Insurance Companies
Chapter 45-03-24 - Unclaimed Life Insurance Benefits
Section 45-03-24-03 - Requirements
Current through Supplement No. 394, October, 2024
The commissioner may approve a transition plan temporarily waiving some or all of the requirements of North Dakota Century Code chapter 26.1-55 if:
1. The company demonstrates and the commissioner determines implementation of the requirements of chapter 26.1-55 will cause legitimate financial hardship;
2. The insurance company transition plan is submitted to the commissioner at least six months prior to the waiver date requested; and
3. The transition plan includes a timeline to convert electronic records and implement electronic searches within a reasonable time as determined by the commissioner.
General Authority: NDCC 28-32-02
Law Implemented: NDCC 26.1-55
