# N.D. Cent. Code § 26.1-05-07.1: 26.1-05-07.1. Approval of the domestic insurer - Premium waiver > North Dakota · Statutes · In force URL: https://www.frixlaw.com/law-library/statutes/STATE_ND_T26.1_C26.1-05_S26.1-05-07.1 ## Section - **Citation:** N.D. Cent. Code § 26.1-05-07.1 - **Heading:** 26.1-05-07.1. Approval of the domestic insurer - Premium waiver - **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 26.1-05-07.1 ## Text 26.1-05-07.1. Approval of the domestic insurer - Premium waiver 1. An insurer organized under the laws of another state which is admitted to do business in this state for the purpose of writing insurance may be a domestic insurer by complying with the requirements of law relative to the organization and licensing of a domestic insurer of the same type in this state and by designating its principal place of business at a place in this state. For purposes of this section, a company is deemed to have designated its principal place of business at a place in this state if the company locates its home office in this state. If an insurer seeks to become a domestic insurer but is unable to designate its principal place of business in this state, the insurer may place on deposit with the Bank of North Dakota, upon the approval of the commissioner, a sum established by the commissioner, which may not be withdrawn without the approval of the commissioner. An insurer that complies with this subsection is entitled to the certificates and licenses to transact the business of a domestic insurer in this state and is subject to the authority and jurisdiction of this state. 2. After an insurance company has redomesticated to this state and located and maintained its home office in this state, the insurance company is allowed a credit against the premium tax imposed and due under section 26.1-03-17 for an amount equal to the premium tax paid in this state during the first two years as a domestic company in this state. This credit must be used in the third and fourth years following the company's redomestication to this state and may not be carried over beyond the fourth year. ## 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_S26.1-05-07.1. Check the current official text before relying on it. Not legal advice.