Minnesota Statutes
Chapters 59A - 79A — Insurance
Chapter 60A — General Insurance Powers

Section 60A.035 — Government Controlled Or Owned Company Prohibited From Transacting Business. - (a) No insurance company the voting control or ownership of...

Section 60A.052 — Certificates Of Authority; Enforcement Actions. - Subdivision 1. Grounds. The commissioner may by order take any...

Section 60A.06 — Kinds Of Insurance Permitted. - Subdivision 1. Statutory lines. Insurance corporations may be authorized to...

Section 60A.07 — Authorization And Requirements. - Subdivision 1. Incorporation. Three or more persons may form a...

Section 60A.078 — Short Title. - Sections 60A.078 to 60A.0789 may be cited as the "Insurable...

Section 60A.0782 — Definitions. - Subdivision 1. Terms. For the purpose of sections 60A.078 to...

Section 60A.0783 — Insurable Interest Required. - Subdivision 1. Insurance on life of another. A person may...

Section 60A.0784 — Prohibited Practices. - It is unlawful for any person to: (1) procure or...

Section 60A.0785 — Prohibition; Entry Into Settlement Contracts. - Subdivision 1. Prohibition. No prospective purchaser of the policy or...

Section 60A.0786 — Presumption Of Stoli Practices. - Subdivision 1. Presumption of STOLI practices. A settlement contract, or...

Section 60A.0787 — Processing Change Of Ownership Or Beneficiary Requests. - Subdivision 1. Obligation to process change of ownership or beneficiary...

Section 60A.0788 — Fraudulent Acts. - Subdivision 1. Fraudulent acts. A person who commits a fraudulent...

Section 60A.0789 — Remedies. - Subdivision 1. Actions to recover death benefits. (a) If the...

Section 60A.08 — Contracts Of Insurance. - Subdivision 1. Policy to contain entire contract. A statement in...

Section 60A.081 — Aircraft Insurance. - Subdivision 1. Compliance exclusions prohibited; exception. (a) No policy of...

Section 60A.0811 — Breach Of Insurance Policy; Recovery Of Interest. - Subdivision 1. Definitions. For purposes of this section: (1) "insurance...

Section 60A.082 — Group Insurance; Benefits Continued If Insurer Changed. - A person covered under group life, group accidental death and...

Section 60A.084 — Notification On Group Policies. - An employer providing life or health benefits may not change...

Section 60A.085 — Cancellation Of Group Coverage; Notification To Covered Persons. - (a) No cancellation of any group life, group accidental death...

Section 60A.086 — Retroactive Termination Of Coverage Under Group Policies Prohibited. - Subdivision 1. Applicability. This section applies to: (1) health plans...

Section 60A.09 — Limits Of Risk; Reinsurance. - Subdivision 1. Maximum risk. No company other than a company...

Section 60A.091 — Definition; Qualified United States Financial Institution. - For purposes of sections 60A.092 and 60A.093, "qualified United States...

Section 60A.092 — Reinsurance Credit Allowed A Domestic Ceding Insurer. - Subdivision 1. Credit allowed. Credit for reinsurance shall be allowed...

Section 60A.0921 — Credit For Reinsurance; Certified Reinsurers. - Subdivision 1. Certified reinsurers; credit allowed. (a) Credit for reinsurance...

Section 60A.093 — Reduction From Liability For Reinsurance Ceded By A Domestic Insurer; Collateral Requirements. - Subdivision 1. Reduction allowed. A reduction from liability for reinsurance...

Section 60A.094 — Rules. - The commissioner may adopt rules implementing the provisions of sections...

Section 60A.095 — Reinsurance Agreements Affected. - Sections 60A.091 to 60A.093 apply to all cessions after July...

Section 60A.096 — Qualifying Letter Of Credit. - Subdivision 1. Generally. An admitted asset or a reduction in...

Section 60A.097 — Qualifying Trust Agreements. - Subdivision 1. Requirements. An admitted asset or a reduction in...

Section 60A.10 — Deposits For Protection Of Policyholders. - Subdivision 1. Domestic companies. (1) Deposit as security for all...

Section 60A.11 — Investments Permitted For Domestic Companies. - Subdivision 1. Requirement for payment of capital stock. The capital...

Section 60A.112 — Investment Policy Required. - Each domestic company must have a written investment policy, designed...

Section 60A.12 — Assets And Liabilities. - Subdivision 1. [Repealed, 2000 c 350 s 16] Subd. 2....

Section 60A.121 — Valuations; Definitions. - Subdivision 1. Application. The definitions in this section apply to...

Section 60A.122 — Required Written Procedures For Valuations. - An insurer shall establish written procedures, approved by the company's...

Section 60A.123 — Valuation Procedure. - Subdivision 1. Requirement. An insurer shall value its commercial mortgage...

Section 60A.124 — Independent Audit. - The audit report of the independent certified public accountant that...

Section 60A.125 — Appraisal By Independent Appraiser. - Subdivision 1. Mortgage loans in the process of foreclosure. An...

Section 60A.126 — Reports To Board; Valuations. - The management of the insurer shall make periodic reports, at...

Section 60A.127 — Independent Appraisals Of Certain Properties. - Subdivision 1. Random sample appraisal requirement. Each domestic insurer that...

Section 60A.1285 — Other Impairments. - If distressed or delinquent mortgage loans being valued according to...

Section 60A.1291 — Annual Audit. - Subdivision 1. Definitions. The definitions in this subdivision apply to...

Section 60A.1295 — Actuarial Opinion Of Reserves And Supporting Documentation. - Subdivision 1. Statement of actuarial opinion. Every property and casualty...

Section 60A.1296 — Confidentiality. - Subdivision 1. Actuarial opinion; public document. The statement of actuarial...

Section 60A.13 — Annual Statement, Inquiries, Renewal Licenses. - Subdivision 1. Annual statements required. Every insurance company, including fraternal...

Section 60A.131 — Other Business And Insurance Interests, Disclosure. - (a) If requested by the commissioner, an insurance company authorized...

Section 60A.135 — Report; Certain Transactions. - Subdivision 1. Requirement. Every insurer domiciled in this state shall...

Section 60A.136 — Acquisitions And Dispositions Of Assets. - Subdivision 1. Materiality. No acquisitions or dispositions of assets need...

Section 60A.137 — Nonrenewals, Cancellations, Or Revisions Of Ceded Reinsurance Agreements. - Subdivision 1. Materiality. (a) No nonrenewals, cancellations, or revisions of...

Section 60A.139 — Electronic Notices And Documents. - Subdivision 1. Terms defined. In this section, the following words...

Section 60A.1391 — Corporate Governance Annual Disclosure. - Subdivision 1. Scope. (a) Nothing in this section shall be...

Section 60A.14 — Fees. - Subdivision 1. Fees other than examination fees. In addition to...

Section 60A.16 — Mergers And Consolidations. - Subdivision 1. Scope. (1) Domestic insurance corporations. Any two or...

Section 60A.161 — Insurer Domestication And Conversion. - Subdivision 1. Approval as a domestic insurer. Any insurer that...

Section 60A.171 — Rehabilitation And Cancellation Of Independent Agent Contracts By Insurance Companies. - Subdivision 1. Termination rights and obligations. (a) After an agency...

Section 60A.172 — Insurance Agency Contracts; Cancellation. - (a) An insurer may not cancel a written agreement with...

Section 60A.173 — Effective Date. - Section 60A.172 is effective January 1, 1987, and applies to...

Section 60A.174 — Severability. - If section 60A.173 is determined by a final, nonappealable order...

Section 60A.175 — Agent Commissions. - (a) An insurer that cancels a written agreement with an...

Section 60A.1755 — Agent Errors And Omissions Insurance; Choice Of Source. - An insurance company shall not require an insurance agent to...

Section 60A.176 — Definitions. - Subdivision 1. Application. The definitions in this section apply to...

Section 60A.177 — Involuntary Termination Of An Agent By The Insurer. - Subdivision 1. Termination review process. An insurer shall establish a...

Section 60A.178 — Life Or Health Insurance Sales Quotas. - No insurer, its officers, or managers shall require licensed property...

Section 60A.179 — Life Or Health Insurance Sales Quotas For Exclusive Agents. - Subdivision 1. Application. This section applies to licensed insurance agents...

Section 60A.19 — Foreign Companies. - Subdivision 1. Requirements. Any insurance company of another state, upon...

Section 60A.195 — Citation. - Sections 60A.195 to 60A.209 shall be known and may be...

Section 60A.196 — Definitions. - Unless the context otherwise requires, the following terms have the...

Section 60A.197 — Rates And Forms. - (a) Rates used by eligible and ineligible surplus lines insurers...

Section 60A.198 — Transaction Of Nonadmitted Insurance. - Subdivision 1. License required. A person, as defined in section...

Section 60A.199 — Examinations. - Subdivision 1. Examination of books and records. If the commissioner...

Section 60A.201 — Placement Of Insurance By Broker. - Subdivision 1. Restrictions. Insurance shall not be placed by the...

Section 60A.202 — Evidence Of Placement Of Insurance By Broker. - Subdivision 1. Restriction. Only a surplus lines broker shall issue...

Section 60A.203 — Retention Of Records. - Each surplus lines broker shall keep a separate account of...

Section 60A.204 — Fees And Commissions. - Subdivision 1. [Repealed by amendment, 2010 c 384 s 6]...

Section 60A.205 — Compensation. - Subdivision 1. Authorization. A surplus lines broker may be compensated...

Section 60A.206 — Qualification As Eligible Surplus Lines Insurer. - Subdivision 1. Insurers to be recognized by commissioner. A surplus...

Section 60A.207 — Policies To Include Notice. - Each policy, cover note, or instrument evidencing nonadmitted insurance from...

Section 60A.208 — Broker Association. - Subdivision 1. Broker's right to associate. Surplus lines brokers may...

Section 60A.2085 — Surplus Lines Association Of Minnesota. - Subdivision 1. Association created; duties. There is hereby created a...

Section 60A.2086 — Licensee's Duty To Submit Documents; Penalty. - Subdivision 1. Submission of documents to Surplus Lines Association of...

Section 60A.209 — Insurance Procured From Ineligible Insurers. - Subdivision 1. Authorization; regulation. A resident of this state may...

Section 60A.2095 — Construction. - Nothing in sections 60A.195 to 60A.209 shall be construed to...

Section 60A.21 — Unauthorized Insurers Process Act. - Subdivision 1. Purpose. The purpose of the Unauthorized Insurers Process...

Section 60A.22 — Special Provisions As To Stock Companies; Stockholders, Officers, Directors And Investors. - Subdivision 1. Shareholders' rights. (1) If an insurance corporation has...

Section 60A.23 — Miscellaneous. - Subdivision 1. Liability of directors and officers generally. If a...

Section 60A.235 — Standards For Determining Whether Contracts Are Health Plan Contracts Or Stop Loss Contracts. - Subdivision 1. Findings and purpose. The purpose of this section...

Section 60A.236 — Stop Loss Regulation; Small Employer Coverage. - A contract providing stop loss coverage, issued or renewed to...

Section 60A.24 — Exemptions From Insurance Laws Of This State. - The following are exempt from all insurance laws of the...

Section 60A.25 — Insolvent Companies. - Subdivision 1. Notification of policyholders. Whenever any foreign or domestic...

Section 60A.26 — Suspension Of Insurers; Notifications And Reports. - Subdivision 1. Other states. The commissioner of commerce shall notify...

Section 60A.27 — Discipline Of Insurer By Another State; Notice To Commissioner. - Subdivision 1. Requirement. An insurance company licensed to transact business...

Section 60A.28 — Documents Filed With Commissioner, Verification. - The commissioner of commerce may require that any document required...

Section 60A.29 — Nonprofit Risk Indemnification Trust Act. - Subdivision 1. Title. This section may be cited as the...

Section 60A.315 — Expedited Form And Rate Filing. - Subdivision 1. Authority. An insurer or rate service organization otherwise...

Section 60A.32 — Rate Filing For Crop Hail Insurance. - Subdivision 1. Authority. An insurer issuing policies of insurance against...

Section 60A.35 — Scope. - Except as specifically limited in section 60A.351, sections 60A.35 to...

Section 60A.351 — Renewal Of Insurance Policy With Altered Rates. - If an insurance company licensed to do business in this...

Section 60A.352 — Workers' Compensation Insurance. - In addition to the requirements of Minnesota Statutes 1984, section...

Section 60A.36 — Midterm Cancellation. - Subdivision 1. Reason for cancellation. No insurer may cancel a...

Section 60A.37 — Nonrenewal. - Subdivision 1. Notice required. At least 60 days before the...

Section 60A.38 — Interpretation And Penalties. - Subdivision 1. Sections not exclusive. Sections 60A.35 to 60A.38 are...

Section 60A.39 — Certificates Of Insurance. - Subdivision 1. Issuance. A licensed insurer or insurance producer may...

Section 60A.41 — Subrogation Against Insureds Prohibited. - (a) An insurance company providing insurance coverage or its reinsurer...

Section 60A.42 — Disability Income Coverage; Prohibited Provision. - No policy, contract, certificate, or agreement offered or issued in...

Section 60A.50 — Definitions. - Subdivision 1. Scope. For purposes of sections 60A.50 to 60A.592,...

Section 60A.51 — Rbc Reports. - Subdivision 1. Submissions. A domestic health organization shall, on or...

Section 60A.52 — Company Action Level Event. - Subdivision 1. Definition. "Company action level event" means the following...

Section 60A.53 — Regulatory Action Level Event. - Subdivision 1. Definition. "Regulatory action level event" means, with respect...

Section 60A.54 — Authorized Control Level Event. - Subdivision 1. Definition. "Authorized control level event" means any of...

Section 60A.55 — Mandatory Control Level Event. - Subdivision 1. Definition. "Mandatory control level event" means any of...

Section 60A.56 — Hearings. - Upon the occurrence of any of the following events, the...

Section 60A.57 — Access To And Use Of Rbc Information. - Subdivision 1. Confidentiality; prohibition on announcements. Section 60A.67, subdivisions 1...

Section 60A.58 — Supplemental Provisions. - Subdivision 1. Effect. Sections 60A.50 to 60A.592 are supplemental to...

Section 60A.59 — Foreign Health Organizations. - Subdivision 1. RBC report. (a) A foreign health organization shall,...

Section 60A.591 — Immunity. - There is no liability on the part of, and no...

Section 60A.592 — Notices. - All notices by the commissioner to a health organization that...

Section 60A.60 — Definitions. - Subdivision 1. Scope. For the purposes of sections 60A.60 to...

Section 60A.61 — Risk-based Capital Reports. - Subdivision 1. General requirements. Every domestic insurer shall, on or...

Section 60A.62 — Company Action Level Event. - Subdivision 1. Definition. "Company action level event" means any of...

Section 60A.63 — Regulatory Action Level Event. - Subdivision 1. Definition. "Regulatory action level event" means, with respect...

Section 60A.64 — Authorized Control Level Event. - Subdivision 1. Definition. "Authorized control level event" means any of...

Section 60A.65 — Mandatory Control Level Event. - Subdivision 1. Definition. "Mandatory control level event" means any of...

Section 60A.66 — Hearings. - Upon: (1) notification to an insurer by the commissioner of...

Section 60A.67 — Confidentiality. - Subdivision 1. Generally. All risk-based capital reports, to the extent...

Section 60A.68 — Supplemental Provisions; Rules; Exemption. - (a) Sections 60A.60 to 60A.696 are supplemental to other laws...

Section 60A.69 — Foreign Insurers. - Subdivision 1. Reporting requirements. A foreign insurer shall, upon the...

Section 60A.695 — Immunity. - There is no liability on the part of, and no...

Section 60A.696 — Notices. - All notices by the commissioner to an insurer that may...

Section 60A.70 — Title. - Sections 60A.70 to 60A.756 may be cited as the "Reinsurance...

Section 60A.705 — Definitions. - Subdivision 1. Terms. For purposes of sections 60A.70 to 60A.756,...

Section 60A.71 — Licensure. - Subdivision 1. Reinsurance intermediary-broker requirements. No person, firm, association, or...

Section 60A.715 — Required Contract Provisions; Reinsurance Intermediary-brokers. - Transactions between an RB and the insurer it represents in...

Section 60A.72 — Books And Records; Reinsurance Intermediary-brokers. - Subdivision 1. Records of transactions. For at least ten years...

Section 60A.725 — Duties Of Insurers Utilizing The Services Of A Reinsurance Intermediary-broker. - (a) An insurer shall not engage the services of a...

Section 60A.73 — Required Contract Provisions; Reinsurance Intermediary-managers. - Subdivision 1. Approval by commissioner. Transactions between an RM and...

Section 60A.735 — Prohibited Acts. - The RM shall not: (1) cede retrocessions on behalf of...

Section 60A.74 — Duties Of Reinsurer Utilizing The Services Of A Reinsurance Intermediary-manager. - Subdivision 1. Licensed persons to be used. A reinsurer shall...

Section 60A.745 — Examination Authority; Reinsurance Intermediary - Broker. - (a) A reinsurance intermediary is subject to examination by the...

Section 60A.75 — Violations. - Subdivision 1. Administrative and civil penalties and liabilities. A reinsurance...

Section 60A.755 — Scope. - Nothing contained in sections 60A.70 to 60A.756 is intended to...

Section 60A.756 — Rules. - The commissioner may adopt rules for the implementation and administration...

Section 60A.76 — Purpose And Scope. - Sections 60A.76 to 60A.768 apply to all individual and group...

Section 60A.761 — Glossary Of Technical Terms Used. - Subdivision 1. Scope. As used in sections 60A.76 to 60A.768,...

Section 60A.762 — Categories Of Reserves. - The following sections set forth minimum standards for three categories...

Section 60A.763 — Claim Reserves. - Subdivision 1. Generally. (a) Claim reserves are required for all...

Section 60A.764 — Premium Reserves. - Subdivision 1. Generally. (a) Unearned premium reserves are required for...

Section 60A.765 — Contract Reserves Required. - (a) Contract reserves are required, unless otherwise specified in paragraph...

Section 60A.766 — Minimum Standards For Contract Reserves. - Subdivision 1. Basis. (a) Minimum standards with respect to morbidity...

Section 60A.767 — Reinsurance. - Increases to or credits against reserves carried, arising because of...

Section 60A.768 — Specific Standards For Morbidity, Interest, And Mortality. - Subdivision 1. Morbidity. A. Minimum morbidity standards for valuation of...

Section 60A.803 — Life And Health Reinsurance Agreements. - Subdivision 1. Scope. This section applies to: (1) all domestic...

Section 60A.90 — Scope. - Sections 60A.90 to 60A.94 apply to all domestic, foreign, and...

Section 60A.91 — Filing Requirements. - (a) A domestic, foreign, and alien insurer who is authorized...

Section 60A.92 — Immunity. - In the absence of actual malice, members of the NAIC,...

Section 60A.93 — Confidentiality. - All financial analysis ratios and examination synopses concerning insurance companies...

Section 60A.94 — Revocation Of Certificate Of Authority. - The commissioner may suspend, revoke, or refuse to renew the...

Section 60A.951 — Definitions. - Subdivision 1. Application. The definitions in this section apply to...

Section 60A.952 — Disclosure Of Information. - Subdivision 1. Request. After receiving a written request from an...

Section 60A.953 — Enforcement; Refusal To Cooperate With An Investigation. - The intentional failure to provide relevant information as required by...

Section 60A.954 — Insurance Antifraud Plan. - Subdivision 1. Establishment. An insurer shall institute, implement, and maintain...

Section 60A.955 — Claim Forms To Contain Fraud Warning. - All insurance claim forms issued by an insurer for use...

Section 60A.956 — Other Law Enforcement Authority. - Nothing in sections 60A.951 to 60A.956 preempts the authority of...

Section 60A.957 — Definitions. - Subdivision 1. Terms. For purposes of sections 60A.957 to 60A.9585,...

Section 60A.9572 — License And Bond Requirements. - Subdivision 1. Provider or broker license required. A person shall...

Section 60A.9573 — License Revocation And Denial. - Subdivision 1. Grounds. The commissioner may suspend, revoke, or refuse...

Section 60A.9574 — Approval Of Viatical Settlement Contracts And Disclosure Statements. - A person shall not use a viatical settlement contract form...

Section 60A.9575 — Reporting Requirements And Privacy. - Subdivision 1. Annual statement. A viatical settlement provider shall file...

Section 60A.9577 — Disclosure To Viator. - Subdivision 1. Application disclosures by provider and broker. With an...

Section 60A.9579 — General Rules. - Subdivision 1. Provider requirements. (a) A viatical settlement provider entering...

Section 60A.9581 — Prohibited Practices And Conflicts Of Interest. - Subdivision 1. Solicitations and sales to controlled person. With respect...

Section 60A.9582 — Advertising For Viatical Settlements And Viatical Settlements Purchase Agreements. - Subdivision 1. Application. This section applies to any advertising of...

Section 60A.9583 — Fraud Prevention And Control. - Subdivision 1. Fraudulent viatical settlement acts, interference, and participation of...

Section 60A.9585 — Unfair Trade Practice. - A violation of sections 60A.957 to 60A.9585, including the commission...

Section 60A.964 — Fees. - Subdivision 1. Amount. The licensing fee for a viatical settlement...

Section 60A.975 — Definitions. - Subdivision 1. Application. For purposes of sections 60A.975 and 60A.976,...

Section 60A.976 — Annuity Issuers Financial Requirements. - An annuity purchased to finance a structured settlement agreement may...

Section 60A.985 — Definitions. - Subdivision 1. Terms. As used in sections 60A.985 to 60A.9857,...

Section 60A.9851 — Information Security Program. - Subdivision 1. Implementation of an information security program. Commensurate with...

Section 60A.9852 — Investigation Of A Cybersecurity Event. - Subdivision 1. Prompt investigation. If the licensee learns that a...

Section 60A.9853 — Notification Of A Cybersecurity Event. - Subdivision 1. Notification to the commissioner. Each licensee shall notify...

Section 60A.9854 — Power Of Commissioner. - (a) The commissioner of commerce or commissioner of health, whichever...

Section 60A.9855 — Confidentiality. - Subdivision 1. Licensee information. Any documents, materials, or other information...

Section 60A.9856 — Exceptions. - Subdivision 1. Generally. The following exceptions shall apply to sections...

Section 60A.9857 — Penalties. - In the case of a violation of sections 60A.985 to...

Section 60A.9858 — Exclusivity. - Notwithstanding any other provision of law, sections 60A.985 to 60A.9857...

Section 60A.99 — Interstate Insurance Product Regulation Compact. - Subdivision 1. Enactment and form. The Interstate Insurance Product Regulation...

Section 60A.991 — Interstate Insurance Product Regulation Compact Opt Out Administration. - Subdivision 1. Access to courts. The commissioner must opt out...

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Minnesota Statutes Chapters 59A - 79A — Insurance Chapter 60A — General Insurance Powers

Minnesota Statutes
Chapters 59A - 79A — Insurance
Chapter 60A — General Insurance Powers