Representatives of fraternal benefit societies who solicit and negotiate insurance contracts are considered to be insurance producers and are subject to the licensing requirements of this chapter, provided that no insurance producer's license is required of:
(1) any officer, employee, or secretary of a fraternal benefit society or of any subordinate lodge or branch who devotes substantially all of that person's time to activities other than the solicitation or negotiation of insurance contracts and who receives no commission or other compensation directly dependent upon the number or amount of contracts solicited or negotiated; or
(2) any agent or representative of a fraternal benefit society who devotes, or intends to devote, less than 50 percent of that person's time to the solicitation and procurement of insurance contracts for that society. Any person who in the preceding calendar year has solicited and procured life insurance in excess of $50,000 face amount, or, in the case of any other kinds of insurance that the society may write, on the persons of more than 25 individuals, and who has received or will receive a commission or other compensation in the total amount of $1,000 or more, is presumed to be devoting, or intending to devote, 50 percent of that person's time to the solicitation or procurement of insurance contracts for that society.
2001 c 117 art 1 s 6
Structure Minnesota Statutes
Chapters 59A - 79A — Insurance
Chapter 60K — Insurance Producers
Section 60K.30 — Purpose And Scope.
Section 60K.32 — License Required.
Section 60K.33 — Criminal Penalty.
Section 60K.34 — Exceptions To Licensing.
Section 60K.35 — Fraternal Benefit Society Representatives.
Section 60K.36 — Examinations.
Section 60K.361 — Insurance Education.
Section 60K.365 — Producer Training Requirements For Long-term Care Insurance Products.
Section 60K.366 — Producer Training Requirements For Flood Insurance Products.
Section 60K.37 — Application For License.
Section 60K.381 — Sale Of Portable Electronics Insurance.
Section 60K.383 — Travel Insurance.
Section 60K.39 — Nonresident Licensing.
Section 60K.40 — Individuals Licensed In Another State; Exemption From Examination.
Section 60K.41 — Assumed Names.
Section 60K.42 — Temporary Licensing.
Section 60K.43 — License Denial, Nonrenewal, Or Revocation.
Section 60K.44 — Tax Clearance Certificate.
Section 60K.45 — Surrender Of License.
Section 60K.46 — Required And Prohibited Acts.
Section 60K.47 — Liability For Placing Insurance In Unauthorized Company.
Section 60K.49 — Appointments.
Section 60K.50 — Limitation On Appointments.
Section 60K.51 — Notification To Commissioner Of Termination.
Section 60K.52 — Use And Sharing Of Licensing And Investigative Data.
Section 60K.54 — Reporting Of Actions.