In the event the commissioner orders an assessment, an assessed insurer must pay the assessment within 30 days of receipt of notice of the assessment. The commissioner may suspend or revoke an insurer's certificate of authority and impose a civil penalty in an amount not to exceed $10,000 for an insurer's failure to pay the assessment within the 30-day period.
1986 c 455 s 33; 2003 c 21 s 9; 2017 c 34 s 8
Structure Minnesota Statutes
Chapters 59A - 79A — Insurance
Chapter 62I — Joint Underwriting Association
Section 62I.02 — Minnesota Joint Underwriting Association.
Section 62I.04 — Policy Issuance.
Section 62I.05 — Plan Of Operation.
Section 62I.06 — Policy Forms; Premium Rate.
Section 62I.07 — Membership Assessments.
Section 62I.08 — Application Procedure.
Section 62I.121 — Benefits For Employees.
Section 62I.13 — Action By The Minnesota Joint Underwriting Association Upon The Application.
Section 62I.15 — Extension Of Coverage.
Section 62I.16 — Stabilization Reserve Fund.
Section 62I.17 — Immunity From Liability.
Section 62I.18 — Right Of Appeal.
Section 62I.19 — Annual Statements.
Section 62I.21 — Activation Of Joint Underwriting Association.