North Dakota Code 26.1-43-03 – Legal plans and contracts excepted from insurance code
Unless otherwise provided, this title does not apply to:
Terms Used In North Dakota Code 26.1-43-03
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Individual: means a human being. See North Dakota Code 1-01-49
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See North Dakota Code 1-01-49
1. Plans licensed under chapter 26.1-19.
2. Retainer contracts made by attorneys with individual clients with fees based upon an estimate of the nature and amount of services to be provided to a specific client and similar contracts made with a group of clients involved in the same or closely related legal matters.
3. Employee welfare benefit plans as defined by the Employee Retirement Income Security Act of 1974 [Pub. L. 93-406; 88 Stat. 829].
4. Plans that do not include the assumption of risk or obligation to pay or reimburse for specified legal services or specified legal expenses. Under this subsection, the payment of only an administrative fee to an attorney is not considered reimbursement of the beneficiary or on behalf of the beneficiary for all or a portion of the beneficiary’s fees, costs, or expenses related to or arising out of services by or under the supervision of an attorney licensed to practice law in this state.