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| Home : Companies : Company licensing : Purchasing group application |
Purchasing group application
A purchasing group may be domiciled in any state and is composed of members having similar or related liability exposure who purchase liability insurance on a group basis. The laws and rules under ND Century Code Chapter 26.1-46 and ND Administrative Code Chapter 45-05-05 govern the registration and requirements of a Purchasing Group in North Dakota.
A purchasing group seeking to be registered in North Dakota must complete and submit the following forms and fees:
- Application for Registration as a Purchasing Group (SFN 53914)
- Registration of Appointment of Agent for Service of Process (SFN 53916)
- Filing fee of $10 for Service of Process
The Insurance Department will issue an approval letter if the application is approved. An application may be filed at any time throughout the year. All applications and fees should be directed to:
Yvonne Keniston
ytkeniston@nd.gov
ND Insurance Department
State Capitol, fifth floor
Dept. 401
600 E. Boulevard Ave.
Bismarck, ND 58505-0320
701.328.2440
701.328.4880 fax
Annual renewal requirement
The registration of every purchasing group must be renewed by March 1 of each year by submitting a Renewal Affidavit for Non-Admitted Companies (SFN 53446) and a $10.00 filing fee to the Insurance Department.
A domestic purchasing group (incorporated in the state of North Dakota) must file a financial statement for the past year.
Every purchasing group must submit a written notification of any changes in operations which result in the registration or notice then on file containing false, inaccurate, or misleading information. The notification to correct such false, inaccurate, or misleading information must be submitted within 30 days of the changes in operations.
A purchasing group must use a North Dakota registered risk retention group, a North Dakota licensed admitted insurance company or a surplus lines insurer approved in North Dakota to be its underwriter for the group. The underwriter is responsible for the payment of premium taxes, not the purchasing group, unless the underwriter is a surplus lines insurer, in which case the surplus lines broker would be responsible.
Please direct any questions to:
Yvonne Keniston
ytkeniston@nd.gov
ND Insurance Department
State Capitol, fifth floor
Dept. 401
600 E. Boulevard Ave.
Bismarck, ND 58505-0320
701.328.2440
701.328.4880 fax
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