N.D. Cent. Code § 26.1-31.1-05: Duties of insurers utilizing the services of reinsurance intermediary-broker

1.An insurer may not engage the services of any person, firm, association, corporation, or limited liability company to act as a reinsurance intermediary-broker on its behalf unless the person, firm, association, corporation, or limited liability company is licensed as required by subsection 1 of section 26.1-31.1-02.

2.An insurer may not employ an individual who is employed by a reinsurance intermediary-broker with which it transacts business, unless the reinsurance intermediary-broker is under common control with the insurer and subject to chapter 26.1-10.

3.The insurer shall annually obtain a copy of statements of the financial condition of each reinsurance intermediary-broker with which it transacts business.