ND LEG Life Settlement Producer Licenses

Updated on: Apr 13, 2025

Latest Event


  • Effectiveness
  • Upon approval, ND bills generally effective Aug. 1 after filing with Secretary of State.

On Apr. 9, ND LEG enacted bill re reporting requirements for licensing.

  • ND LEG enacted SB 2092, reporting requirements for life settlement producer licenses
  • Makes amendments to ND INS 26.1-33.4-02 to remove date restriction provisions.
  • Amends licensing requirements by removing provision that a license issued between May 1, 2023, and July 31, 2023, is not required to be renewed until April 30, 2025.
  • Legislative History
  • On Jan. 7, 2025, bill introduced in Senate; on Jan. 27, 2025, bill passed in the Senate.
  • On Jan. 28, 2023, bill introduced in House; on Mar. 25, 2025, bill passed in the House.
  • On Apr. 8, 2025, bill signed by governor; on Apr. 9, 2025, filed by Secretary of State.
  • Effectiveness
  • Upon approval, ND bills generally effective Aug. 1 after filing with Secretary of State.
Regulators
ND LEG
Entity Types
IB; Ins
Reference
Bill SB2092, 4/9/2025; Citation: ND INS 26.1-33.4;
Functions
Compliance; Legal; Registration/Licensing; Reporting
Countries
United States of America
Category
State
N/A
Products
Insurance; Insurance-Life
Rule Type
Final
Regions
Am
Rule Date
Apr 9, 2025
Effective Date
Aug 1, 2025
Rule ID
250334
Linked to
Reg. Last Update
Apr 9, 2025
Report Section
US Banking