This bill establishes a new chapter, 26.1-08.1, in the North Dakota Century Code, which pertains to the comprehensive health association of North Dakota. It repeals the existing chapters 26.1-08 and 26.1-08.1, effectively replacing the previous legal framework with updated provisions. Key definitions are introduced, including terms such as "association," "board," "creditable coverage," "guaranteed issue," and "lead carrier." The bill outlines the cessation of operations for the association, mandating that enrollment under the plan will end on May 1, 2025, and all existing benefit plans will terminate by December 31, 2025. It also requires the association to provide at least a ninety-day notice to current policyholders regarding the termination of their plans.

Additionally, the bill stipulates that individuals losing creditable coverage must be offered enrollment in a comparable health benefit plan or a Medicare supplement policy. It establishes a statute of limitations for any legal actions against the association or the board, requiring that such actions be initiated within one year or by December 31, 2027, whichever comes first. The bill is declared an emergency measure, with the repeal of the previous chapters taking effect on December 31, 2027.