This bill proposes amendments and new provisions to the North Dakota Century Code concerning the obligations of insurance producers. A significant addition is the requirement for insurance producers to maintain an electronic mailing address for regulatory communications, as outlined in the newly created section 26.1-26-33.1. The bill also amends existing sections to update definitions and procedures related to insurance producer licensing, including changes to the lines of insurance that can be marketed, the service of process for regulatory actions, and the conditions under which nonresident licenses may be revoked.

Key amendments include the removal of certain terms, such as "and annuity" from the definition of life insurance, and the addition of "fixed and indexed" to annuities. The bill also modifies the service of process to allow for electronic mailing, and it updates the renewal procedures for public adjuster licenses, including the notification requirements for changes in address or legal name. Additionally, it streamlines the continuing education requirements for public adjusters, allowing for a one-time extension for reporting compliance. Overall, the bill aims to modernize the regulatory framework for insurance producers in North Dakota.

Statutes affected:
INTRODUCED: 26.1-26-11, 26.1-26-22, 26.1-26-42.1, 26.1-26.8-09, 26.1-26.8-11, 26.1-26.8-12
PREFILED: 26.1-26-11, 26.1-26-22, 26.1-26-42.1, 26.1-26.8-09, 26.1-26.8-11, 26.1-26.8-12