{"data":{"id":"us-nd/n.d.-cent.-code-26.1-03.1-01","jurisdiction":"us-nd","citation":"N.D. Cent. Code § 26.1-03.1-01","heading":"Definitions","body":"As used in this chapter:\n1.\"Adjusted risk-based capital report\" means a risk-based capital report that has been adjusted by the commissioner in accordance with subsection 5 of section 26.1-03.1-02.\n2.\"Corrective order\" means an order issued by the commissioner specifying corrective actions that the commissioner has determined are required.\n3.\"Domestic insurer\" means any insurer domiciled in this state, except a county mutual insurance company.\n4.\"Foreign insurer\" means any insurer that is licensed to do business in this state under chapter 26.1-11 but is not domiciled in this state.\n5.\"Fraternal benefit society\" means any insurer licensed under chapter 26.1-15.1.\n6.\"Life or health insurer\" means any licensed life or health insurer or a licensed property and casualty insurer writing only accident and health insurance.\n7.\"Negative trend\" means, with respect to a life or health insurer or a fraternal benefit society, negative trend over a period of time, as determined in accordance with the trend test calculation included in the life or fraternal risk-based capital instructions.\n8.\"Property and casualty insurer\" means any insurer licensed under chapter 26.1-05 or 26.1-11 but does not include monoline mortgage guaranty insurers, financial guaranty insurers, and title insurers.\n9.\"Risk-based capital instructions\" means the risk-based capital report, including risk-based capital instructions adopted by the national association of insurance commissioners, as such risk-based capital instructions may be amended by the national association of insurance commissioners from time to time in accordance with the procedures adopted by the national association of insurance commissioners.\n10.\"Risk-based capital level\" means an insurer's company action level risk-based capital, regulatory action level risk-based capital, authorized control level risk-based capital, or mandatory control level risk-based capital where:\na.\"Authorized control level risk-based capital\" means the number determined under the risk-based capital formula in accordance with the risk-based capital instructions.\nb.\"Company action level risk-based capital\" means, with respect to any insurer, the product of two and its authorized control level risk-based capital.\nc.\"Mandatory control level risk-based capital\" means the product of seventy hundredths and the authorized control level risk-based capital.\nd.\"Regulatory action level risk-based capital\" means the product of one and one-half and its authorized control level risk-based capital.\n11.\"Risk-based capital plan\" means a comprehensive financial plan containing the elements specified in subsection 2 of section 26.1-03.1-03. If the commissioner rejects the risk-based capital plan, and it is revised by the insurer, with or without the commissioner's recommendation, the plan must be called the \"revised risk-based capital plan\".\n12.\"Risk-based capital report\" means the report required in section 26.1-03.1-02.\n13.\"Total adjusted capital\" means the sum of:\na.An insurer's statutory capital and surplus as determined in accordance with statutory accounting applicable to the annual financial statements required to be filed under section 26.1-03-07; and\nb.Such other items, if any, as the risk-based capital instructions may provide.","path":["Title 26.1 Insurance","Chapter 26.1-03.1 Risk-Based Capital Reports"],"source_url":"https://ndlegis.gov/cencode/t26-1c03-1.pdf","current_through":"2026-07-31T11:12:02","vintage":"","retrieved_at":"2026-09-02T21:04:14Z","sha256":"d75bbb3dd85b62872223acb9a5bf2c2745fc9a2e063bfa3b77b7e3f8080e0c4c","source_id":"us-nd","stale":true,"prev":"us-nd/n.d.-cent.-code-26.1-03-22","next":"us-nd/n.d.-cent.-code-26.1-03.1-02"},"notice":"GroundRules: Original legal text. Not legal advice."}