# N.D. Cent. Code § 26.1-05-02: 26.1-05-02. Organization of domestic stock company - Number of persons required - Authorized lines

> North Dakota · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_ND_T26.1_C26.1-05_S26.1-05-02

## Section

- **Citation:** N.D. Cent. Code § 26.1-05-02
- **Heading:** 26.1-05-02. Organization of domestic stock company - Number of persons required - Authorized lines
- **Jurisdiction:** North Dakota
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** ND Code / Title 26.1 / Chapter 26.1-05 / Section 26.1-05-02

## Text

26.1-05-02. Organization of domestic stock company - Number of persons required -

Authorized lines.

Any number of persons not less than seven may form a corporation on the stock plan to

carry on one or more of the following lines of insurance:

1. Life and annuity means insurance coverage on human lives, including benefits of

endowment, annuities, and credit life.

2. Accident and health means insurance coverage for sickness, disease, injury,

accidental death, and disability.

3. Property means insurance coverage for direct and consequential loss of or damage to

property of every kind.

4. Casualty means insurance coverage against legal liability, including that for death,

injury, or disability or damage to real or personal property.

5. Variable life and annuity means insurance coverage provided under variable life

insurance contracts, variable annuities, or any other life insurance or annuity that

reflects the investment experience of a separate account.

A stock insurance company incorporated under this chapter may carry the lines of insurance

mentioned in this section which have been expressed in its articles of incorporation.

## Nearby sections

- [N.D. Cent. Code § 26.1-05-01 26.1-05-01. General powers and duties of domestic company](https://www.frixlaw.com/law-library/statutes/STATE_ND_T26.1_C26.1-05_S26.1-05-01.md)
- [N.D. Cent. Code § 26.1-05-02 26.1-05-02. Organization of domestic stock company - Number of persons required - Authorized lines](https://www.frixlaw.com/law-library/statutes/STATE_ND_T26.1_C26.1-05_S26.1-05-02.md)
- [N.D. Cent. Code § 26.1-05-02.1 26.1-05-02.1. Authority to define products](https://www.frixlaw.com/law-library/statutes/STATE_ND_T26.1_C26.1-05_S26.1-05-02.1.md)
- [N.D. Cent. Code § 26.1-05-03 26.1-05-03. Organization of domestic mutual life company - Number of organizers required](https://www.frixlaw.com/law-library/statutes/STATE_ND_T26.1_C26.1-05_S26.1-05-03.md)
- [N.D. Cent. Code § 26.1-05-04 26.1-05-04. Capital stock and surplus requirements of domestic stock company - Exceptions](https://www.frixlaw.com/law-library/statutes/STATE_ND_T26.1_C26.1-05_S26.1-05-04.md)
- [N.D. Cent. Code § 26.1-05-05 26.1-05-05. Qualification of directors - Residence requirements of directors and executive officers](https://www.frixlaw.com/law-library/statutes/STATE_ND_T26.1_C26.1-05_S26.1-05-05.md)
- [N.D. Cent. Code § 26.1-05-06 26.1-05-06. Articles of incorporation - Contents - Filing - Company name](https://www.frixlaw.com/law-library/statutes/STATE_ND_T26.1_C26.1-05_S26.1-05-06.md)
- [N.D. Cent. Code § 26.1-05-07 26.1-05-07. Examination of articles by commissioner - Certificate - Filing](https://www.frixlaw.com/law-library/statutes/STATE_ND_T26.1_C26.1-05_S26.1-05-07.md)
- [N.D. Cent. Code § 26.1-05-07.1 26.1-05-07.1. Approval of the domestic insurer - Premium waiver](https://www.frixlaw.com/law-library/statutes/STATE_ND_T26.1_C26.1-05_S26.1-05-07.1.md)
- [N.D. Cent. Code § 26.1-05-07.2 26.1-05-07.2. Effects of redomestication](https://www.frixlaw.com/law-library/statutes/STATE_ND_T26.1_C26.1-05_S26.1-05-07.2.md)
- [N.D. Cent. Code § 26.1-05-07.3 26.1-05-07.3. Conversion to foreign insurer](https://www.frixlaw.com/law-library/statutes/STATE_ND_T26.1_C26.1-05_S26.1-05-07.3.md)
- [N.D. Cent. Code § 26.1-05-08 26.1-05-08. Stock subscriptions](https://www.frixlaw.com/law-library/statutes/STATE_ND_T26.1_C26.1-05_S26.1-05-08.md)
- [N.D. Cent. Code § 26.1-05-09 26.1-05-09. Commissioner authorized to regulate solicitation of proxies](https://www.frixlaw.com/law-library/statutes/STATE_ND_T26.1_C26.1-05_S26.1-05-09.md)
- [N.D. Cent. Code § 26.1-05-10 26.1-05-10. Equity security defined](https://www.frixlaw.com/law-library/statutes/STATE_ND_T26.1_C26.1-05_S26.1-05-10.md)

---

Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_ND_T26.1_C26.1-05_S26.1-05-02. Check the current official text before relying on it. Not legal advice.