26.1-44-03.2. Domestic surplus lines insurers

26.1-44-03.2. Domestic surplus lines insurers 1. A North Dakota domestic insurer may be designated a domestic surplus lines insurer if: a. The insurer possesses a policyholder surplus of at least fifteen million dollars; b. The designation is in compliance with a resolution of the insurer's board of directors; and c. The commissioner has provided written approval of the designation. 2. A domestic surplus lines insurer may write surplus lines insurance in North Dakota and any other jurisdiction in which the insurer is eligible. A domestic surplus lines insurer may insure in this state any risk if: a. Produced pursuant to chapter 26.1-44; and b. The premium is subject to surplus lines premium tax pursuant to section 26.1-44-03.1. 3. For purposes of the federal Nonadmitted and Reinsurance Reform Act of 2010 [15 U.S.C. 8201 et seq.], a domestic surplus lines insurer is considered a nonadmitted insurer as defined under that Act, with respect to risks insured in this state. 4. A domestic surplus lines insurer may not issue a policy designed to satisfy the motor vehicle financial responsibility requirements in chapter 26.1-41 or any other law mandating insurance coverage by a licensed insurance company. 5. Except as specifically exempted from such requirements, a domestic surplus lines insurer is subject to compliance with all financial examination and solvency requirements that apply to domestic insurers under chapter 26.1-03 regarding examinations and reports. 6. A domestic surplus lines insurer is not subject to the provisions of chapter 26.1-38.1 regarding the life and health insurance guaranty association nor to chapter 26.1-39 regarding property and casualty insurance.