# Title 45 — Insurance, Commissioner of

## Article 45-05 — Property and Casualty Insurance

## Chapter 45-05-02 — Crop Hail Insurance

### § 45-05-02-01. Policy term.

Repealed effective May 1, 1997.
### § 45-05-02-02. Cash discounts.

Repealed effective May 1, 1997.
### § 45-05-02-03. Dividends.

1. "Guaranteed dividends" may not be offered or provided with regard to any policy of crop/hail
insurance. Dividends may be provided through a participating policy based upon the profit of
the preceding year's experience for that line of insurance.
2. Payment of dividends may not be made at the time of or in connection with the solicitation of
insurance for the new crop year, nor may payment of the dividend be contingent upon
obtaining a policy through the same insurer or agent.
3. Any requests for assignment of dividends by lending institutions must be fully explained to the
policy or certificate holder.
4. Only insurance companies or insurers may pay dividends and they shall be paid directly to the
policy or certificate holder.
5. A dividend may not be used as a credit against the next year's premium.
History: Effective May 1, 1984.
General Authority: NDCC 28-32-02
Law Implemented: NDCC 26.1-25
### § 45-05-02-04. Rate for similar crop varieties.

Repealed effective May 1, 1997.
