Insurance License Hub

The North Dakota Premium Finance Company license

Premium Finance Company

Lends people the money for their insurance premiums in North Dakota, under agreements the Department reads before it licenses anybody. The license is annual and expires on 1 April, and the statute exempts a long list of businesses that already lend money under some other regulator, insurance producers among them.

Course

None

This license has no pre-licensing course route.

Ways in

1

There is no state exam for this license.

Exam

n/a

Not required on any of the routes below.

Every way to qualify

  1. Route 1 Apply for the license

    No state exam for this license

    Qualification

    • Experience, training or education qualifying the applicant to finance insurance premiums, which the commissioner must find alongside competence, trustworthiness, good faith and a good business reputation. N.D.C.C. 26.1-20.1-02(2) sets no period and names no course, so no figure is recorded here.

    and documents

    • The premium finance agreement itself with its rate chart and business forms, a certified charter or articles and bylaws, a Secretary of State certificate of compliance, the most recent financial statement sworn by a principal officer and prepared by a certified public accountant, a balance sheet on the Department's own form, a federal identification number, a resident power of attorney, an agent for service of process, and the name of the person who will run the business under the license.

    N.D.C.C. 26.1-20.1-02(1): no person may finance insurance premiums in this state without a license issued by the commissioner. There is no examination and no course. 26.1-01-07(1)(p) prices the license and each annual renewal at $100, and 26.1-01-07(1)(q) lets the Department charge the actual expense and a per diem of up to $50 for examining or investigating a licensee. 26.1-20.1-03 keeps a licensee out for the usual grounds; 26.1-20.1-05 asks for three years of records after the final entry on each agreement, open to inspection in ordinary business hours. The chapter does not apply to insurance producers, insurers financing their own premiums, banks, savings and loan associations, credit unions, annuity, safe deposit and trust companies, subsidiary trust companies, small loan companies, licensed money brokers or other licensed financial institutions.

    Read at the Department on 2026-08-20

There is no examination and no course; the qualification is experience, training or education that the commissioner finds sufficient, with no period and no syllabus behind it. No national seller prices a North Dakota product for it.