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North Dakota · Through 2026-07-31T11:12:02 · Newer source version available

N.D. Cent. Code § 26.1-34.2-04: Compliance mitigation - Enforceability - Penalty

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Where this section sits in the code
  1. Title 26.1 Insurance
  2. 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

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