reglab/housing_qa huggingface dataset:
MN Stat § 60G.06 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60G — Administrative Supervision|Section 60G.06 — Administrative Election Of Proceedings.

60G.06 ADMINISTRATIVE ELECTION OF PROCEEDINGS. Nothing contained in this chapter precludes the commissioner from initiating judicial proceedings to place an insurer in rehabilitation or liquidation proceedings under the laws of this state, regardless of whether the commissioner has previously initiated administrative supervision proceedings under this chapter against the insurer. History:   1991 c 325 art 2 s 6
MN Stat § 60G.07 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60G — Administrative Supervision|Section 60G.07 — Rules.

60G.07 RULES. The commissioner may adopt rules necessary for the implementation of this chapter. History:   1991 c 325 art 2 s 7
MN Stat § 60G.08 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60G — Administrative Supervision|Section 60G.08 — Immunity.

60G.08 IMMUNITY. There shall be no liability on the part of, and no cause of action may be brought against the commissioner or the department or its employees or agents for any action taken by them in the performance of their powers and duties under this chapter. History:   1991 c 325 art 2 s 8
MN Stat § 60G.09 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60G — Administrative Supervision|Section 60G.09 — Application.

60G.09 APPLICATION. Sections 60G.01 to 60G.08 apply to domestic insurers and any other insurer doing business in this state whose state of domicile has requested the commissioner of commerce to apply sections 60G.01 to 60G.08. History:   1991 c 325 art 2 s 9
MN Stat § 60G.21 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60G — Administrative Supervision|Section 60G.21 — Commissioner's Order.

60G.21 COMMISSIONER'S ORDER. Subdivision 1. Authorization. If the commissioner determines that the continued operation of the insurer licensed to transact business in this state may be hazardous to the policyholders or the general public, then the commissioner may, upon the commissioner's determination, issue an order requiring the insurer to: (1) reduce the total amount of present and potential liability for policy benefits by reinsurance; (2) reduce, suspend, or limit the volume of business being accepted or renewed; (3) reduce general insurance and commission expenses by methods specified by the commissioner; (4) increase the insurer's capital and surplus; (5) suspend or limit the declaration and payment of dividend by an insurer to its stockholders or to its policyholders; (6) file reports in a form acceptable to the commissioner concerning the market value of an insurer's assets; (7) limit or withdraw from certain investments or discontinue certain investment practices to the extent the commissioner considers necessary; (8) document the adequacy of premium rates in relation to the risks insured; or (9) file, in addition to regular annual statements, interim financial reports on the form adopted by the National Association of Insurance Commissioners or in the format adopted by the commissioner. Subd. 2. Review. An insurer subject to an order under subdivision 1 may request, within 30 days of issuance of the order, a hearing as provided under chapter 14 to review that order. All hearings conducted under this section are closed and private. History:   1991 c 325 art 3 s 2
MN Stat § 60G.22 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60G — Administrative Supervision|Section 60G.22 — Judicial Review.

60G.22 JUDICIAL REVIEW. Any order or decision of the commissioner is subject to review as provided under chapter 14 at the request of a party whose interests are substantially affected by the order or decision. History:   1991 c 325 art 3 s 3
MN Stat § 60H.01 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60H — Managing General Agents|Section 60H.01 — Short Title.

60H.01 SHORT TITLE. This chapter may be cited as the "Managing General Agents Act." History:   1991 c 325 art 4 s 1
MN Stat § 60H.02 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60H — Managing General Agents|Section 60H.02 — Definitions.

60H.02 DEFINITIONS. Subdivision 1. Application. The terms defined in this section apply to this chapter. Subd. 2. Actuary. "Actuary" means a person who is a member in good standing of the American Academy of Actuaries. Subd. 3. Insurer. "Insurer" means a person, firm, association, or corporation duly licensed in this state as an insurance company. Subd. 4. Managing general agent. (a) "Managing general agent" means a person, firm, association or corporation who: (1) manages all or part of the insurance business of an insurer, including the management of a separate division, department, or underwriting office, and (2) acts as an agent for the insurer whether known as a managing general agent, manager, or other similar term, who, with or without the authority, either separately or together with affiliates, produces, directly or indirectly, and underwrites an amount of gross direct written premium equal to or more than five percent of the policyholder surplus as reported in the last annual statement of the insurer in any one quarter or year, together with one or more of the following activities related to the business produced: (i) adjusts or pays claims in excess of an amount determined by the commissioner, or (ii) negotiates reinsurance on behalf of the insurer. (b) Notwithstanding paragraph (a), the following persons shall not be considered as managing general agents for the purposes of this chapter: (1) an employee of the insurer; (2) a United States manager of the United States branch of an alien insurer; (3) an underwriting manager who, pursuant to contract, manages all or a part of the insurance or reinsurance operation of the insurer, is under common control with the insurer, subject to the Insurance Holding Company Act, chapter 60D, and whose compensation is not based on the volume of premiums written; or (4) an attorney in fact authorized by and acting for the subscribers of a reciprocal insurer or interinsurance exchange under powers of attorney. Subd. 5. Underwrite. "Underwrite" means the authority to accept or reject risk on behalf of the insurer. History:  1991 c 325 art 4 s 2; 1995 c 214 s 12
MN Stat § 60H.03 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60H — Managing General Agents|Section 60H.03 — Licensure.

60H.03 LICENSURE. Subdivision 1. Risks located in state. A managing general agent representing an insurer licensed in this state with respect to risks located in this state must be licensed in this state. Subd. 2. Risks located outside of state. A managing general agent representing an insurer domiciled in this state with respect to risks located outside this state must be licensed in this state as a managing general agent. The license may be a nonresident license. Subd. 3. Requirements. The commissioner may require a bond in an amount acceptable for the protection of the insurer. The commissioner may require the managing general agent to maintain an errors and omissions policy. Subd. 4. Term and fees. The term of a managing general agent license issued under this section and the license fees imposed are the same as those applicable to a licensed insurance agent under chapter 60K. History:  1991 c 325 art 4 s 3; 2000 c 483 s 5; 2000 c 488 art 2 s 2
MN Stat § 60H.05 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60H — Managing General Agents|Section 60H.05 — Duties Of Insurers.

60H.05 DUTIES OF INSURERS. Subdivision 1. Independent financial examination. The insurer shall have on file an independent financial examination, in a form acceptable to the commissioner, of each managing general agent with which it has done business. Subd. 2. On-site review. The insurer shall periodically, at least semiannually, conduct an on-site review of the underwriting and claims processing operation of the managing general agent and maintain on its records the results of that review. Subd. 3. Officer of insurer. Except as authorized under section 60H.04, paragraph (j), clause (1), binding authority for all reinsurance contracts or participation in insurance or reinsurance syndicates shall rest with an officer of the insurer not affiliated with the managing general agent. Subd. 4. Written notification. Within 30 days of entering into or termination of a contract with a managing general agent, the insurer shall provide written notification of the appointment or termination to the commissioner. Notices of appointment of a managing general agent must include a statement of duties which the managing general agent is expected to perform on behalf of the insurer, the lines of insurance for which the managing general agent is to be authorized to act, and any other information the commissioner may request. Subd. 5. Review of books and records. An insurer shall review its books and records each quarter to determine if a licensed agent has become a managing general agent as defined in section 60H.02, subdivision 4. If the insurer determines that an agent has become a managing general agent, the insurer shall promptly notify the agent and the commissioner of the determination and the insurer and agent must fully comply with this chapter within 30 days. Subd. 6. Prohibited appointments. An insurer shall not appoint to its board of directors an officer, director, employee, subagent, or controlling shareholder of its managing general agents. This section does not apply to relationships governed by the Insurance Holding Company Act, chapter 60D, or, if applicable, the Business Transacted With Producer Controlled Insurer Act, chapter 60J. History:  1991 c 325 art 4 s 5; 2000 c 260 s 13
MN Stat § 60H.06 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60H — Managing General Agents|Section 60H.06 — Examination Authority.

60H.06 EXAMINATION AUTHORITY. A managing general agent may be examined as if it were the insurer. History:   1991 c 325 art 4 s 6
MN Stat § 60H.07 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60H — Managing General Agents|Section 60H.07 — Acts Of Managing General Agent.

60H.07 ACTS OF MANAGING GENERAL AGENT. The acts of the managing general agent are considered to be the acts of the insurer on whose behalf it is acting. History:   1991 c 325 art 4 s 7
MN Stat § 60H.08 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60H — Managing General Agents|Section 60H.08 — Penalties And Liabilities.

60H.08 PENALTIES AND LIABILITIES. Subdivision 1. Commissioner's authority. If the commissioner finds pursuant to the procedural requirements of section 45.027 that a person has violated a provision of this chapter, the commissioner may take any action authorized under that section. Subd. 2. Additional penalty. In addition to authority granted by section 45.027 for each separate violation, the commissioner may impose a penalty of up to $10,000 for each day the violation continues and order the managing general agent to reimburse the insurer, rehabilitator, or liquidator of the insurer for any losses incurred by the insurer caused by a violation of this chapter committed by the managing general agent. Subd. 3. Civil remedies. (a) If the commissioner finds that because of the violation that the insurer has suffered loss or damage, the commissioner may maintain a civil action for recovery of compensatory damages for the benefit of the insurer and its policyholders and creditors or other appropriate relief. (b) If an order of rehabilitation or liquidation of the insurer has been entered pursuant to chapter 60B, and the receiver appointed under that order determines that the managing general agent or any other person has violated this chapter, or any rule or order adopted under this chapter, and the insurer suffered loss or damage, the receiver may maintain a civil action for recovery of damages or other appropriate sanctions for the benefit of the insurer. Subd. 4. Judicial review. The decision, determination, or order of the commissioner under subdivision 1 is subject to judicial review as provided under chapter 14. Subd. 5. Imposition of other penalties. Nothing contained in this section shall affect the right of the commissioner to impose any other penalties provided for by law. Subd. 6. Policyholder rights. Nothing contained in this chapter is intended to or shall in any manner limit or restrict the rights of policyholders, claimants, and auditors. History:  1991 c 325 art 4 s 8; 1995 c 214 s 13
MN Stat § 60H.09 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60H — Managing General Agents|Section 60H.09 — Rules.

60H.09 RULES. The commissioner of commerce may adopt rules for the implementation and administration of this chapter. History:   1991 c 325 art 4 s 9
MN Stat § 60J.06 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60J — Business Transacted With Producer Controlled Insurer|Section 60J.06 — Short Title.

60J.06 SHORT TITLE. Sections 60J.06 to 60J.11 may be cited as the "Business Transacted with Producer Controlled Insurer Act." History:   1992 c 540 art 1 s 1
MN Stat § 60J.07 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60J — Business Transacted With Producer Controlled Insurer|Section 60J.07 — Definitions.

60J.07 DEFINITIONS. Subdivision 1. Application. The definitions in this section apply to sections 60J.06 to 60J.11. Subd. 2. Accredited state. "Accredited state" means a state in which the insurance department or regulatory agency has qualified as meeting the minimum financial regulatory standards promulgated and established from time to time by the National Association of Insurance Commissioners (NAIC). Subd. 3. Captive insurer. "Captive insurer" means an insurance company owned by another organization whose exclusive purpose is to insure risks of the parent organization and affiliated companies or, in the case of groups and associations, an insurance organization owned by the insureds whose exclusive purpose is to insure risks to member organizations or group members and their affiliates. Subd. 4. Commissioner. "Commissioner" means the commissioner of commerce. Subd. 5. Control. "Control" or "controlled" has the meaning given in section 60D.15, subdivision 4. Subd. 6. Controlled insurer. "Controlled insurer" means a licensed insurer which is controlled, directly or indirectly, by a producer. Subd. 7. Controlling producer. "Controlling producer" means a producer who, directly or indirectly, controls an insurer. Subd. 8. Licensed insurer. "Licensed insurer" or "insurer" means any person, firm, association, or corporation licensed to transact a property/casualty insurance business in this state. The following entities are not licensed insurers for the purposes of sections 60J.06 to 60J.11: (1) all risk retention groups as defined in the Superfund Amendments Reauthorization Act of 1986, Public Law 99-499, 100 Stat. 1613; the Risk Retention Act, United States Code, title 15, section 3901, et seq.; and chapter 60; (2) all residual market pools and joint underwriting authorities or associations; and (3) all captive insurers. Subd. 9. Producer. "Producer" means an insurance broker or any other person, firm, association, or corporation, when, for any compensation, commission or other thing of value, the person, firm, association, or corporation acts or aids in any manner in soliciting, negotiating, or procuring the making of any insurance contract on behalf of an insured other than the person, firm, association, or corporation. History:   1992 c 540 art 1 s 2
MN Stat § 60J.08 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60J — Business Transacted With Producer Controlled Insurer|Section 60J.08 — Application.

60J.08 APPLICATION. Sections 60J.06 to 60J.11 apply to licensed insurers, either domiciled in this state or domiciled in a state that is not an accredited state having in effect a substantially similar law. All provisions of chapter 60D, to the extent they are not superseded by sections 60J.06 to 60J.11, apply to all parties within holding company systems subject to sections 60J.06 to 60J.11. History:   1992 c 540 art 1 s 3
MN Stat § 60J.10 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60J — Business Transacted With Producer Controlled Insurer|Section 60J.10 — Disclosure.

60J.10 DISCLOSURE. The producer, prior to the effective date of the policy, shall deliver written notice to the prospective insured disclosing the relationship between the producer and the controlled insurer; except that, if the business is placed through a subproducer who is not a controlling producer, the controlling producer shall retain in the producer's records a signed commitment from the subproducer that the subproducer is aware of the relationship between the insurer and the producer and that the subproducer has or will notify the insured. History:   1992 c 540 art 1 s 5
MN Stat § 60J.11 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60J — Business Transacted With Producer Controlled Insurer|Section 60J.11 — Penalties.

60J.11 PENALTIES. Subdivision 1. Cease and desist order. If the commissioner believes that the controlling producer or any other person has not materially complied with sections 60J.06 to 60J.11 or any rule or order, after notice and opportunity to be heard, the commissioner may order the controlling producer to cease placing business with the controlled insurer. Subd. 2. Commissioner's authority. If the commissioner finds pursuant to the procedural requirements of section 45.027, that a person has violated a provision of this chapter, the commissioner may take any action authorized under that section. Subd. 3. Civil action by commissioner. The commissioner may maintain a civil action or intervene in an action brought by or on behalf of the insurer or policyholder for recovery of compensatory damages for the benefit of the insurer or policyholder or other appropriate relief. Subd. 4. Civil action by receiver. If an order for liquidation or rehabilitation of the controlled insurer has been entered under chapter 60B and the receiver appointed under that order believes that the controlling producer or any other person has not materially complied with sections 60J.06 to 60J.11, or any rule or order, and the insurer suffered any loss or damage therefrom, the receiver may maintain a civil action for recovery of damages or other appropriate sanctions for the benefit of the insurer. Subd. 5. Additional penalties and rights. Nothing contained in this section affects the right of the commissioner to impose any other penalties provided for in the insurance law. Nothing contained in this section is intended to or shall in any manner alter or affect the rights of policyholders, claimants, creditors, or other third parties. History:   1992 c 540 art 1 s 6
MN Stat § 60K.30 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60K — Insurance Producers|Section 60K.30 — Purpose And Scope.

60K.30 PURPOSE AND SCOPE. (a) Sections 60K.30 to 60K.56 govern the qualifications and procedures for the licensing of insurance producers. (b) Except as to the underlying requirement that a surplus lines agent or broker obtain an insurance producer license, this chapter does not apply to surplus lines agents or brokers licensed under sections 60A.195 to 60A.209, except as provided in sections 60K.39 and 60K.53, subdivision 2. History:   2001 c 117 art 1 s 1
MN Stat § 60K.32 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60K — Insurance Producers|Section 60K.32 — License Required.

60K.32 LICENSE REQUIRED. A person shall not sell, solicit, or negotiate insurance in this state for any class or classes of insurance unless the person is licensed for that line of authority under sections 60K.30 to 60K.56. The license itself does not create any authority, actual, apparent, or inherent, in the holder to represent or commit an insurance carrier. History:  2001 c 117 art 1 s 3; 2002 c 379 art 1 s 20
MN Stat § 60K.33 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60K — Insurance Producers|Section 60K.33 — Criminal Penalty.

60K.33 CRIMINAL PENALTY. A person who acts or assumes to act as an insurance producer without a license issued under this chapter is guilty of a gross misdemeanor. History:   2001 c 117 art 1 s 4
MN Stat § 60K.35 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60K — Insurance Producers|Section 60K.35 — Fraternal Benefit Society Representatives.

60K.35 FRATERNAL BENEFIT SOCIETY REPRESENTATIVES. 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. History:   2001 c 117 art 1 s 6
MN Stat § 60K.361 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60K — Insurance Producers|Section 60K.361 — Insurance Education.

60K.361 INSURANCE EDUCATION. (a) Prelicense education must consist of 20 hours of education per line of authority. (b) The course must include an introduction to insurance and insurance-related concepts covering all of the major lines of authority except variable life and variable annuities. The course must consist of the following: (1) rules, regulations, and law; (2) basic fundamentals of insurance; (3) property: (i) types of policies; (ii) policy provisions; (iii) perils, exclusions, deductibles, and liability; and (iv) evaluating needs; (4) casualty: (i) types of policies; (ii) policy provisions; (iii) perils, exclusions, deductibles, and liability; and (iv) evaluating needs; (5) life: (i) types of policies; (ii) policy provisions; and (iii) group insurance; and (6) accident and health: (i) types of policies; (ii) policy provisions; and (iii) group insurance. (c) Courses that cover a specific major line of authority must include the following: (1) life: (i) types of life insurance policies; and (ii) Minnesota laws, rules, and regulations pertinent to life insurance; (2) accident and health: (i) types of health insurance policies; and (ii) Minnesota laws, rules, and regulations pertinent to accident and health insurance; (3) property: (i) personal lines; (ii) commercial lines; and (iii) Minnesota laws, rules, and regulations pertinent to property insurance; (4) casualty: (i) personal lines; (ii) commercial lines; and (iii) Minnesota laws, rules, and regulations pertinent to casualty insurance; and (5) personal lines: (i) types of property/casualty personal lines insurance policies; and (ii) Minnesota laws, rules, and regulations pertinent to property/casualty personal lines insurance. History:  2009 c 63 s 28,78; 2010 c 384 s 13