The bill amends section 26.1-03-10 of the North Dakota Century Code, which pertains to the publication requirements for insurance companies' annual statements. It mandates that when an insurance company submits its annual statement for filing, it must also submit an abstract for publication using a form prescribed by the commissioner. The abstract must be published at least three times in a newspaper of general circulation, which is now required to be evenly distributed across all newspapers operating in the judicial district, rather than being designated by the commissioner and limited to specific judicial districts.

Additionally, the bill specifies that state or county mutual insurance companies must publish their abstracts once in a newspaper published in the county where the company has its principal place of business, as chosen by the members at their annual meeting. The certificate of authority issued by the commissioner must be published alongside the abstract, and publication fees will follow the provisions outlined in section 46-05-03. Proof of publication must be submitted to the commissioner within four months of filing the annual statement, and the commissioner is tasked with providing abstracts in a convenient format on their website.

Statutes affected:
INTRODUCED: 26.1-03-10