§ 26.1-12-01 Organization of mutual insurance company – Minimum number of members
§ 26.1-12-02 Corporate name – Restrictions
§ 26.1-12-03 Articles of incorporation – Contents
§ 26.1-12-04 Articles of incorporation – Filing – Issuance of certificate
§ 26.1-12-05 Legal existence – Adoption of bylaws – Transaction of business
§ 26.1-12-06 Bylaws of mutual company – Meetings – Notice – Quorum
§ 26.1-12-07 Amendment of articles of incorporation – Amendment of bylaws – Extension of corporate existence
§ 26.1-12-08 License required – Prerequisites to issuance of license
§ 26.1-12-09 Temporary capital on organization of mutual life insurance company – Retirement
§ 26.1-12-10 Mutual life insurance company – Amount of subscribed insurance required – Surplus required
§ 26.1-12-11 Authority to insure or reinsure – Types of insurance open to mutual insurance company
§ 26.1-12-11.1 Authority to define products
§ 26.1-12-12 Compliance with general insurance laws – Provisions or conditions in policy
§ 26.1-12-13 Applicability of general insurance laws to mutual companies
§ 26.1-12-14 Membership in domestic mutual insurance company – Votes of members – Notice of meetings
§ 26.1-12-15 Corporations, limited liability companies, associations, boards, and estates may become member of mutual insurance company – Rights and liabilities
§ 26.1-12-16 Vote by proxy permitted – Manner of voting by proxy
§ 26.1-12-18 Premiums and contingent liabilities to be stated in bylaws and on policy – Collection of premiums
§ 26.1-12-19 Nonpayment of premiums and contingent liabilities – Effect – Continuation of liability on mortgage clause policy
§ 26.1-12-20 Separate reserves to be maintained for each kind of insurance written by mutual insurance company
§ 26.1-12-21 Reserve fund may be established – Limitation – Use
§ 26.1-12-22 Investments
§ 26.1-12-23 Deficiency in assets – Assessments required
§ 26.1-12-24 Making premium reserve good – Assessments – Cancellation of policies – Reinsurance
§ 26.1-12-25 Directors and treasurer of mutual insurance company personally liable for not making and collecting assessments
§ 26.1-12-26 Advance to mutual insurance company – Repayment – Reporting – Commission or promotion expense
§ 26.1-12-27 Licensing foreign mutual insurance company – Prerequisites
§ 26.1-12-28 Annual statements and examinations of mutual insurance companies
§ 26.1-12-29 Dividends payable by mutual insurance company
§ 26.1-12-30 Determination of dividends
§ 26.1-12-31 Taxable premiums of mutual insurance company
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Terms Used In North Dakota Code > Chapter 26.1-12 - Incorporated Mutual Insurance Companies

  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • following: when used by way of reference to a chapter or other part of a statute means the next preceding or next following chapter or other part. See North Dakota Code 1-01-49
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgagee: The person to whom property is mortgaged and who has loaned the money.
  • Person: means an individual, organization, government, political subdivision, or government agency or instrumentality. See North Dakota Code 1-01-49
  • Process: means a writ or summons issued in the course of judicial proceedings. See North Dakota Code 1-01-49
  • Property: includes property, real and personal. See North Dakota Code 1-01-49
  • Quorum: The number of legislators that must be present to do business.
  • Service of process: The service of writs or summonses to the appropriate party.
  • 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
  • Trustee: A person or institution holding and administering property in trust.
  • United States: includes the District of Columbia and the territories. See North Dakota Code 1-01-49
  • written: include "typewriting" and "typewritten" and "printing" and "printed" except in the case of signatures and when the words are used by way of contrast to typewriting and printing. See North Dakota Code 1-01-37
  • year: means twelve consecutive months. See North Dakota Code 1-01-33