Posted: 7/20/2010
North Dakota: DOI Issues Bulletin Allowing Certain Certificates of Deposit to be Considered Cash
The North Dakota Insurance Department issued Bulletin 2010-2, which will allow more certificates of deposit to be considered cash for statutory accounting purposes, thereby, allowing domestic companies to avoid having to file these securities at the NAIC’s Security Valuation Office. The bulletin removes the provision that had restricted the cash rule to CDs with a maturity of one year or less. The bulletin took effect July 8.