{"data":{"id":"us-nd/n.d.-cent.-code-26.1-50-02","jurisdiction":"us-nd","citation":"N.D. Cent. Code § 26.1-50-02","heading":"Establishment - Organization","body":"Any insurer or group of insurers may establish a corporation or limited liability company to own and operate the North Dakota low-risk incentive fund. Except as provided in this chapter, all authority regarding the articles of incorporation or articles of organization is the province of the governing board, which must include a representative of the Bank of North Dakota and the commissioner of commerce or the commissioner's designee. The Bank of North Dakota shall administer the fund; however, the governing board is responsible for adopting fund policies and procedures. The governing board may not distribute more than seventy-five percent of the net profit of the fund in any of the first five years of operation.","path":["Title 26.1 Insurance","Chapter 26.1-50 North Dakota Low-Risk Incentive Fund"],"source_url":"https://ndlegis.gov/cencode/t26-1c50.pdf","current_through":"2026-07-31T11:12:02","vintage":"","retrieved_at":"2026-09-02T21:04:14Z","sha256":"833449dbf8ad9a9c5ed22fef8a8b6160b38e4f7329b3860da2ab7534153855ad","source_id":"us-nd","stale":true,"prev":"us-nd/n.d.-cent.-code-26.1-50-01","next":"us-nd/n.d.-cent.-code-26.1-50-03"},"notice":"GroundRules: Original legal text. Not legal advice."}