26.1-02-01. Definitions

26.1-02-01. Definitions In chapters 26.1-02 through 26.1-04, unless the context or subject matter otherwise requires: 1. "Domestic" means incorporated or formed in this state. 2. "Foreign", when used without limitation, means formed by the authority of any state or government other than this state. 3. "Foreign decree" means any decree or order in equity of a court located in a reciprocal state, including a court of the United States, against any insurer incorporated or authorized to do business in this state. 4. "Insurance company" includes any corporation, association, benefit society, exchange, partnership, or individual engaged as principal in the business of insurance. 5. "Qualified party" means a state regulatory agency acting in its capacity to enforce the insurance laws of its state. 6. "Reciprocal state" means any state the laws of which contain procedures substantially similar to those specified in this chapter for the enforcement of decrees or orders in equity issued by courts located in other states, against any insurance company incorporated or authorized to do business in that state.