ND SB2349

Creates exemption from insurance regulations for nonprofit agricultural membership organizations incorporated in North Dakota before August 1, 2023, that promote farmers' interests and provide health care coverage to members and their families.

Requires any risks arising from health care coverage provided by these organizations to be reinsured by a company authorized to conduct insurance in the state.

Mandates organizations file verification with the insurance commissioner that they meet all requirements before providing health care coverage under this exemption.

Restricts health care coverage sales to licensed insurance producers appointed by the nonprofit agricultural membership organization.

Requires health care coverage to be provided through self-funded arrangements administered by entities holding a certificate of authority, and mandates applications and contracts clearly state the coverage is not insurance and is not subject to insurance laws or commissioner jurisdiction.