North Dakota Code 26.1-26-06 – Insurance producer – Agent of insurer
Current as of: 2023 | Check for updates
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An insurance producer who sells, solicits, or negotiates an application for insurance of any kind is, in any controversy between the insured or the insured’s beneficiary and the insurer, regarded as representing the insurer and not the insured or the insured’s beneficiary. An insurance producer may not act as an agent of an insurer unless the insurance producer becomes an appointed insurance producer of that insurer. This section does not affect the apparent authority of an agent.
Terms Used In North Dakota Code 26.1-26-06
- 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