N.D. Cent. Code § 26.1-34.2-04: Compliance mitigation - Enforceability - Penalty
Where this section sits in the code
- Title 26.1 Insurance
- Chapter 26.1-34.2 Annuity Transaction Practices
1.An insurer is responsible for compliance with this chapter. If a violation occurs, either because of the action or inaction of the insurer or the insurer's producer, the commissioner may order:
a.An insurer to take reasonably appropriate corrective action for any consumer harmed by a failure to comply with this chapter by the insurer or by the producer;
b.A general agency, independent agency, or the producer to take reasonably appropriate corrective action for any consumer harmed by the producer's violation of this chapter; and
c.Appropriate penalties and sanctions.
2.Any applicable penalty under section 26.1-01-03.3 for a violation of this chapter may be reduced or eliminated, according to a schedule adopted by the commissioner, if corrective action for the consumer was taken promptly after a violation was discovered.
3.The authority to enforce compliance with this section is vested exclusively with the commissioner.
Collected 2026-09-02T21:04:14Z. Source file · JSON