North Dakota Code 26.1-31-01 – Reinsurance contract defined
Current as of: 2023 | Check for updates
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A reinsurance contract is one by which an insurer contracts with a third person to insure the insurer against loss or liability by reason of an original insurance contract made by the insurer.
Terms Used In North Dakota Code 26.1-31-01
- Contract: A legal written agreement that becomes binding when signed.
- Person: means an individual, organization, government, political subdivision, or government agency or instrumentality. See North Dakota Code 1-01-49