Subdivision 1. Insurance disclosure. Service contracts insured under a reimbursement insurance policy pursuant to section 59B.03, subdivision 4, clause (1), must contain a statement in substantially the following form: "Obligations of the provider under this service contract are insured under a service contract reimbursement insurance policy." The service contract must also state the name and address of the insurer.
Subd. 2. Disclosure of no insurance. Service contracts not insured under a reimbursement insurance policy pursuant to section 59B.03, subdivision 4, clause (1), must contain a statement in substantially the following form: "Obligations of the provider under this service contract are backed by the full faith and credit of the provider."
1Sp2005 c 1 art 5 s 6
Structure Minnesota Statutes
Chapters 59A - 79A — Insurance
Chapter 59B — Regulation Of Service Contracts
Section 59B.01 — Scope And Purpose.
Section 59B.03 — Requirements For Transacting Business.
Section 59B.04 — Required Disclosures; Reimbursement Insurance Policy.
Section 59B.05 — Required Disclosure; Service Contracts.
Section 59B.06 — Additional Required Disclosure; Service Contracts.
Section 59B.07 — Prohibited Acts.
Section 59B.08 — Record-keeping Requirements.
Section 59B.09 — Termination Of Reimbursement Insurance Policy.
Section 59B.10 — Obligation Of Reimbursement Insurance Policy Insurers.