Self-insurers - Restrictions

Only persons in whose name one or more motor vehicles are registered may qualify as self-insurers. Such persons must file satisfactory evidence that they are possessed and will be continued to be possessed of the ability to provide for the prompt and efficient administration of all claims, benefits, and obligations provided by North Dakota Century Code chapter 26.1-41 and that reliable financial arrangements, deposits, or commitments exist to meet their security requirement as required by North Dakota Century Code chapter 26.1-41 substantially equivalent to those afforded by a policy of insurance that would comply with that chapter.