Policies on which refund not required.

45-03-08-01. Policies on which refund not required. An insurer may provide a refund of premium for life insurance policies, guaranteed renewable accident and health policies and crop/hail policies; however, such refund is not required and policy forms permitting no refund may be approved by the insurance department. History: Effective October 1, 1984. General Authority: NDCC 28-32-02 Law Implemented: NDCC 26.1-24-03