Withdrawal of approval of reinsurer.

45-03-07-06. Withdrawal of approval of reinsurer. The commissioner may withdraw approval if at any time the commissioner has reason to believe that any reinsurer: 1. Is in unsound financial condition; 2. Is no longer eligible under North Dakota Century Code section 26.1-02-20 or this chapter; or 3. Has willfully violated the laws of this state. The commissioner shall promptly mail notice of such withdrawal to the reinsurer and to each licensed insurer whose most recent annual statement shows it was reinsured by such reinsurer. History: Effective January 1, 1984. General Authority: NDCC 26.1-01-08 Law Implemented: NDCC 26.1-02-20 2