North Dakota Code 26.1-09-07 – Maximum indemnity on fire risk – Statement of maximum liability on single risk
Current as of: 2023 | Check for updates
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A subscriber to a reciprocal or interinsurance contract may not assume on any single fire insurance risk an amount greater than ten percent of the net worth of the subscriber. Whenever required so to do by the commissioner, the attorney shall furnish to the commissioner a statement under oath of the attorney showing the maximum amount of indemnity carried upon any single fire insurance risk.
Terms Used In North Dakota Code 26.1-09-07
- Contract: A legal written agreement that becomes binding when signed.