North Dakota Code 26.1-26.9-05 – Application for license and fees
1. An owner selling, soliciting, or offering self-service storage insurance shall apply to the commissioner.
Terms Used In North Dakota Code 26.1-26.9-05
- Person: means an individual, organization, government, political subdivision, or government agency or instrumentality. See North Dakota Code 1-01-49
- 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
2. a. The applicant shall provide the name, residential address, and other information required by the commissioner for the supervising entity designated by the applicant as the person responsible for the owner’s compliance with the insurance laws, rules, and regulations of this state.
b. If the owner derives more than fifty percent of the owner’s revenue from the sale of self-service storage insurance, the names, residential addresses, and other information required by the commissioner must be provided for all officers, directors, and shareholders of record having beneficial ownership of ten percent or more.
3. Each owner licensed under this chapter shall pay to the commissioner a fee as prescribed by the commissioner.
4. An owner selling, soliciting, or offering self-service storage insurance before the effective date of this Act shall apply for licensure within ninety days of the application being made available by the commissioner. An applicant that begins to sell, solicit, or offer self-service storage insurance after the effective date of this Act shall obtain a license before selling, soliciting, or offering self-service storage insurance.