ND SB2140

Increases the annual aggregate limit for gifts, prizes, promotional articles, logo merchandise, meals, and entertainment activities that insurance producers may give to clients from $51 to $101 per person per year.

Permits gift cards for specific merchandise or services such as meals, gasoline, or car wash, but prohibits cash, cash cards, currency, or premium discounts.

Allows insurance producers to donate unlimited amounts to nonprofit organizations exempt under Internal Revenue Code section 501(c)(3), provided donations are not given as inducements to obtain insurance quotes or contracts.

Applies restrictions equally to certificate holders, children, and employees of named insureds, policy owners, or prospective clients who are excluded from gift eligibility.

Prohibits conditioning the giving of any gifts or promotional items on obtaining a quote or insurance contract.