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North Dakota Senate Bill SB2124

North Dakota 2025-2026 Regular Session

North Dakota Senate Bill SB2124 Compare Versions

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1-Sixty-ninth Legislative Assembly of North Dakota
2-In Regular Session Commencing Tuesday, January 7, 2025
3-SENATE BILL NO. 2124
4-(Industry and Business Committee)
1+25.8129.02001
2+Title.03000
3+Adopted by the House Industry,
4+Business and Labor Committee
5+Sixty-ninth
6+March 12, 2025
7+Legislative Assembly
8+of North Dakota
9+Introduced by
10+Industry and Business Committee
511 (At the request of the Insurance Commissioner)
6-AN ACT to create and enact section 26.1-03-19.8 and a new section to chapter 26.1-03 of the North
7-Dakota Century Code, relating to insurance company inquiries and insurance company
8-statements; and to amend and reenact section 26.1-03-19.1 and subsection 6 of section
9-26.1-03-19.4 of the North Dakota Century Code, relating to insurance company definitions and
10-examination records.
12+A BILL for an Act to create and enact section 26.1-03-19.8 and a new section to chapter 26.1-03
13+of the North Dakota Century Code, relating to insurance company inquiries and insurance
14+company statements; and to amend and reenact section 26.1-03-19.1 and subsection 6 of
15+section 26.1-03-19.4 of the North Dakota Century Code, relating to insurance company
16+definitions and examination records.
1117 BE IT ENACTED BY THE LEGISLATIVE ASSEMBLY OF NORTH DAKOTA:
12-SECTION 1. AMENDMENT. Section 26.1-03-19.1 of the North Dakota Century Code is amended
13-and reenacted as follows:
18+SECTION 1. AMENDMENT. Section 26.1-03-19.1 of the North Dakota Century Code is
19+amended and reenacted as follows:
1420 26.1-03-19.1. Examination of companies - Definitions.
15-In sections 26.1-03-19.1 through 26.1-03-19.726.1 - 03 - 19.8 , unless the context otherwise requires:
21+In sections 26.1-03-19.1 through 26.1-03-19.726.1 - 03 - 19.8 , unless the context otherwise
22+requires:
1623 1."Company" means any foreign or domestic insurance company as defined in section
1724 26.1-02-01.
18-2."Data call" means an inquiry addressed to a company issued before, or in lieu of an
19-examination under this chapter.
20-3."Examiner" means any individual or firm having been authorized by the commissioner to
21-conduct an examination under this chapter.
22-3.4."Person" means any individual, aggregation of individuals, trust, association, partnership, or
23-corporation, or any affiliate thereof.
24-SECTION 2. AMENDMENT. Subsection 6 of section 26.1-03-19.4 of the North Dakota Century
25-Code is amended and reenacted as follows:
25+2."Data call" means an inquiry addressed to a company issued before, during, or in lieu
26+of an examination under this chapter.
27+3."Examiner" means any individual or firm having been authorized by the commissioner
28+to conduct an examination under this chapter.
29+3.4."Person" means any individual, aggregation of individuals, trust, association,
30+partnership, or corporation, or any affiliate thereof.
31+Page No. 1 25.8129.02001
32+ENGROSSED SENATE BILL NO. 2124
33+FIRST ENGROSSMENT
34+PROPOSED AMENDMENTS TO
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53+19 Sixty-ninth
54+Legislative Assembly
55+SECTION 2. AMENDMENT. Subsection 6 of section 26.1-03-19.4 of the North Dakota
56+Century Code is amended and reenacted as follows:
2657 6.All working papers, recorded information, documents, and copies thereof produced by,
2758 obtained by, or disclosed to the commissioner or any other person in the course of an
28-examination made under this chapter, or in the course of analysis by the commissioner of the
29-financial condition or market conduct of the company, must be given confidential treatment
30-and are not subject to subpoena and may not be made public by the commissioner or any
31-other person, except as provided in this subsection and to the extent provided in subsection 5.
32-Access also may be granted to the national association of insurance commissioners. The
33-parties must agree in writing prior to receiving the information to provide to it the same
34-confidential treatment as required by this section, unless the prior written consent of the
35-company to which it pertains has been obtained. This subsection may not be construed as
36-prohibiting the commissioner from making public aggregate or anonymized information from
37-the materials contemplated in this subsection.
38-SECTION 3. Section 26.1-03-19.8 of the North Dakota Century Code is created and enacted as
39-follows:
59+examination made under this chapter, or in the course of analysis by the commissioner
60+of the financial condition or market conduct of the company, must be given confidential
61+treatment and are not subject to subpoena and may not be made public by the
62+commissioner or any other person, except as provided in this subsection and to the
63+extent provided in subsection 5. Access also may be granted to the national
64+association of insurance commissioners. The parties must agree in writing prior to
65+receiving the information to provide to it the same confidential treatment as required by
66+this section, unless the prior written consent of the company to which it pertains has
67+been obtained. This subsection may not be construed as prohibiting the commissioner
68+from making public aggregate or anonymized information from the materials
69+contemplated in this subsection.
70+SECTION 3. Section 26.1-03-19.8 of the North Dakota Century Code is created and
71+enacted as follows:
4072 26.1 - 03 - 19.8. Data calls.
41-1.The commissioner or the commissioner's designated representative may issue a data call
42-under this chapter whenever the commissioner deems it appropriate. The insurance company S. B. NO. 2124 - PAGE 2
43-shall reply in writing to the data call within twenty days of receipt of the inquiry unless within
44-that twenty days the company requests and the commissioner grants an extension of time.
45-2.For purposes of completing a data call under this section, the commissioner may inquire into
46-any person, or the business of any person, to the extent the inquiry or investigation is, in the
47-sole discretion of the commissioner, necessary or material to the operations of the company.
48-3.The commissioner may designate the national association of insurance commissioners or
49-another representative as the repository for data call responses.
50-4.All materials, working papers, information, documents, and copies produced by, obtained by,
51-or disclosed to the commissioner or any other person in the course of a data call made under
52-this chapter, or in the course of analysis by the commissioner of the market conduct of the
53-company:
73+1.The commissioner or the commissioner's designated representative may issue a data
74+call under this chapter whenever the commissioner deems it appropriate. The
75+insurance company shall reply in writing to the data call within twenty days of receipt
76+of the inquiry unless within that twenty days the company requests and the
77+commissioner grants an extension of time.
78+2.For purposes of completing a data call under this section, the commissioner may
79+inquire into any person, or the business of any person, to the extent the inquiry or
80+investigation is, in the sole discretion of the commissioner, necessary or material to the
81+operations of the company.
82+3.The commissioner may designate the national association of insurance
83+commissioners or another representative as the repository for data call responses.
84+4.All materials, working papers, information, documents, and copies produced by,
85+obtained by, or disclosed to the commissioner or any other person in the course of a
86+Page No. 2 25.8129.02001
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117+31 Sixty-ninth
118+Legislative Assembly
119+data call made under this chapter, or in the course of analysis by the commissioner of
120+the market conduct of the company:
54121 a.Must be given confidential treatment;
55122 b.Are not subject to subpoena; and
56-c.May not be made public by the commissioner or any other person, except to the extent
57-provided in this chapter.
58-5.The commissioner may use the documents, materials, or other information in furtherance of
59-any regulatory or legal action brought as part of the commissioner's official duties.
60-6.The commissioner may make the results of the data call available for public inspection in an
61-aggregate and anonymized format that does not disclose information or data attributed to any
62-specific company or person, including the name of any company or person who responded to
63-the data call.
123+c.May not be made public by the commissioner or any other person, except to the
124+extent provided in this chapter.
125+5.The commissioner may use the documents, materials, or other information in
126+furtherance of any regulatory or legal action brought as part of the commissioner's
127+official duties.
128+6.The commissioner may make the res ults of the data call available for public inspection
129+in an aggregate or and anonymized format that does not di sclose information or data
130+call summaries of responses received from insurance companies transacting
131+insurance business in this state attributed to any specific company or person, including
132+the name of any company or person who responded to the data call .
64133 7.The commissioner may adopt rules to administer this section.
65-SECTION 4. A new section to chapter 26.1-03 of the North Dakota Century Code is created and
66-enacted as follows:
134+SECTION 4. A new section to chapter 26.1-03 of the North Dakota Century Code is created
135+and enacted as follows:
67136 Market conduct annual statement.
68-1.The commissioner may require a foreign or domestic insurance company to annually file a
69-market conduct annual statement. The statement must:
70-a.Be filed with the commissioner, or with the commissioner's designee, on a date specified
71-by the commissioner;
137+1.The commissioner may require a foreign or domestic insurance company to annually
138+file a market conduct annual statement. The statement must:
139+a.Be filed with the commissioner, or with the commissioner's designee, on a date
140+specified by the commissioner;
72141 b.Include the scope of information prescribed by the commissioner; and
73142 c.Be in the proper form and transmitted, as prescribed by the commissioner.
74-2.The commissioner may, in the commissioner's discretion and for good cause, exclude an
75-insurance company from filing a statement under this section.
76-3.The commissioner may adopt rules to implement and administer this section. S. B. NO. 2124 - PAGE 3
77-____________________________ ____________________________
78-President of the Senate Speaker of the House
79-____________________________ ____________________________
80-Secretary of the Senate Chief Clerk of the House
81-This certifies that the within bill originated in the Senate of the Sixty-ninth Legislative Assembly of North
82-Dakota and is known on the records of that body as Senate Bill No. 2124.
83-Senate Vote:Yeas 46 Nays 0 Absent 1
84-House Vote: Yeas 91 Nays 1 Absent 2
85-____________________________
86-Secretary of the Senate
87-Received by the Governor at ________M. on _____________________________________, 2025.
88-Approved at ________M. on __________________________________________________, 2025.
89-____________________________
90-Governor
91-Filed in this office this ___________day of _______________________________________, 2025,
92-at ________ o’clock ________M.
93-____________________________
94-Secretary of State
143+2.The commissioner may, in the commissioner's discretion and for good cause, exclude
144+an insurance company from filing a statement under this section.
145+3.The commissioner may adopt rules to implement and administer this section.
146+Page No. 3 25.8129.02001
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