On Apr. 7, ND LEG enacted bill re INS company inquiries, statements.
ND LEG approved Bill SB 2124 re insurance company inquiries, and exam records.
Amends North Dakota century code, to add and amend existing sections of ND INS 26.1-03 re insurance company inquiries as well as insurance company statements.
Insurance Records
Also amends the Code re insurance company definitions and examination records.
Does not prohibit Commissioner from making public aggregate or anonymized data.
Commissioner or designee may issue data call when appropriate and INS company will reply in writing within twenty days of receipt of inquiry unless granted an extension.
Additionally, the Commissioner may designate the National Association of Insurance Commissioners or another representative as the repository for data call responses.
Materials, working papers, data, documents, and copies produced by, obtained by, or disclosed to the commissioner re data call or related to regulatory or legal action.
Commissioner may also insurance company to annually file market conduct statement.
Legislative History
On Jan. 7, 2025, bill introduced in Senate; on Jan. 17, 2025, bill passed in Senate.
On Jan. 20, 2025, bill delivered to House; on Mar. 17, 2025, bill was passed in House.
On Apr. 2, 2025 Senate concurred House; on Apr. 2, 2025, bill delivered to governor.
On Apr. 7, 2025, bill signed by governor; on Apr. 8, 2025, filed with Secretary of State.
Effectiveness
Bills without effective dates become effective on Aug. 1, unless they are appropriations or tax bills, which case they become effective on Jul. 1, so effective on Aug. 1, 2025.
