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Chapter 26.1-05

Organization and Operation of Domestic Companies
Section Section Name
26.1-05-01 General powers and duties of domestic company
26.1-05-02 Organization of domestic stock company ‑ Number of persons required ‑ Authorized lines
26.1-05-02.1 Authority to define products
26.1-05-03 Organization of domestic mutual life company ‑ Number of organizers required
26.1-05-04 Capital stock and surplus requirements of domestic stock company ‑ Exceptions
26.1-05-05 Qualification of directors ‑ Residence requirements of directors and executive officers
26.1-05-06 Articles of incorporation ‑ Contents ‑ Filing ‑ Company name
26.1-05-07 Examination of articles by commissioner ‑ Certificate ‑ Filing
26.1-05-07.1 Approval of the domestic insurer ‑ Premium waiver
26.1-05-07.2 Effects of redomestication
26.1-05-07.3 Conversion to foreign insurer
26.1-05-08 Stock subscriptions
26.1-05-09 Commissioner authorized to regulate solicitation of proxies
26.1-05-10 Equity security defined
26.1-05-11 Statement of ownership required
26.1-05-12 Gains to benefit company ‑ Suit to recover
26.1-05-13 Conditions of sale
26.1-05-14 Exceptions
26.1-05-15 Rulemaking authority ‑ Liability
26.1-05-16 Capital stock reduced ‑ Examination and certificate of commissioner
26.1-05-17 Transfer of stock pending examination ‑ Liability
26.1-05-18 Investment of funds must be authorized by directors ‑ Prohibited investment practices
26.1-05-19 Authorized investment of funds of insurance companies
26.1-05-19.1 Call options ‑ Financial futures contracts
26.1-05-20 Limitation on purchase and conveyance of real property
26.1-05-21 Real property acquired by domestic company ‑ When sale required
26.1-05-22 Liabilities of officers and directors of domestic company
26.1-05-23 Domestic life insurance company to deposit securities with commissioner
26.1-05-24 Commissioner may examine books and securities of domestic life insurance company
26.1-05-25 Securities may be exchanged ‑ Withdrawal of securities
26.1-05-26 Dividends on securities property of company
26.1-05-27 Certificate of compliance with security deposit law ‑ Issuance ‑ Renewal ‑ Attachment to policies
26.1-05-28 Securities vest in policyholders on default of domestic life insurance company
26.1-05-29 Nonapplicability of reserve deposit provisions to fraternal benefit societies
26.1-05-30 Disbursements by domestic life insurance company to be made on voucher ‑ Requirements
26.1-05-31 Salaries and expenses of officers and agents of domestic life insurance company ‑ Restrictions
26.1-05-32 Impairment of capital or surplus of domestic life insurance company ‑ Determination of deficiency ‑ Notice not to issue policies
26.1-05-33 Dividends to be paid by domestic fire insurance company from surplus profits only ‑ Compensation
26.1-05-34 Reciprocal states ‑ Restrictions on domestic companies ‑ Exceptions
26.1-05-35 Participation in clearing corporations and book entry systems ‑ Rulemaking authority

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