26.1-18.1-05. Fiduciary responsibilities
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ND Code › Title 26.1 › Chapter 26.1-18.1 › Section 26.1-18.1-05
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26.1-18.1-05. Fiduciary responsibilities
1. Any director, officer, employee, or partner of a health maintenance organization who
receives, collects, disburses, or invests funds in connection with the activities of the
organization is responsible for the funds in a fiduciary relationship to the organization.
2. If the commissioner deems it necessary for the security of the funds of a health
maintenance organization, the commissioner may require an official bond of each
officer and each employee of the organization in an amount not to exceed the sum of
money for which each is accountable.
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