reglab/housing_qa huggingface dataset:
MN Stat § 59C.07 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 59C — Vehicle Protection Products|Section 59C.07 — Disclosure To Warranty Holder.

59C.07 DISCLOSURE TO WARRANTY HOLDER. A vehicle protection product warranty must not be sold or offered for sale in this state unless the warranty: (1) states, "The obligations of the warrantor to the warranty holder are guaranteed under a warranty reimbursement insurance policy" if the warrantor elects to meet its financial responsibility obligations under section 59C.05, subdivision 2, or states "The obligations of the warrantor under this warranty are backed by the full faith and credit of the warrantor" if the warrantor elects to meet its financial responsibility obligations under section 59C.05, subdivision 3; (2) states that in the event a warranty holder must make a claim against a party other than the warranty reimbursement insurance policy issuer, the warranty holder is entitled to make a direct claim against the insurer upon the failure of the warrantor to pay any claim or meet any obligation under the terms of the warranty within 60 days after proof of loss has been filed with the warrantor, if the warrantor elects to meet its financial responsibility obligations under section 59C.05, subdivision 2; (3) states the name and address of the issuer of the warranty reimbursement insurance policy, and this information need not be preprinted on the warranty form, but may be added to or stamped on the warranty, if the warrantor elects to meet its financial responsibility obligations under section 59C.05, subdivision 2; (4) identifies the warrantor, the seller, and the warranty holder; (5) sets forth the total purchase price and the terms under which it is to be paid, however, the purchase price is not required to be preprinted on the vehicle protection product warranty and may be negotiated with the consumer at the time of sale; (6) sets forth the procedure for making a claim, including a telephone number; (7) specifies the payments or performance to be provided under the warranty including payments for incidental costs expressed as either a fixed amount specified in the warranty or sales agreement or by the use of a formula itemizing specific incidental costs incurred by the warranty holder, the manner of calculation or determination of payments or performance, and any limitations, exceptions, or exclusions; (8) sets forth all of the obligations and duties of the warranty holder such as the duty to protect against any further damage to the vehicle, the obligation to notify the warrantor in advance of any repair, or other similar requirements, if any; (9) sets forth any terms, restrictions, or conditions governing transferability and cancellation of the warranty, if any; and (10) contains a disclosure that reads substantially as follows: "This agreement is a product warranty and is not insurance." History:   2007 c 57 art 3 s 27
MN Stat § 59C.08 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 59C — Vehicle Protection Products|Section 59C.08 — Prohibited Acts.

59C.08 PROHIBITED ACTS. (a) Unless licensed as an insurance company, a vehicle protection product warrantor shall not use in its name, contracts, or literature, any of the words "insurance," "casualty," "surety," "mutual," or any other words descriptive of the insurance, casualty, or surety business or deceptively similar to the name or description of any insurance or surety corporation, or any other vehicle protection product warrantor. A warrantor may use the term "guaranty" or similar word in the warrantor's name. (b) A vehicle protection product seller or warrantor may not require as a condition of financing that a retail purchaser of a motor vehicle purchase a vehicle protection product. History:   2007 c 57 art 3 s 28
MN Stat § 59C.09 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 59C — Vehicle Protection Products|Section 59C.09 — Record Keeping.

59C.09 RECORD KEEPING. (a) All vehicle protection product warrantors shall keep accurate accounts, books, and records concerning transactions regulated under this chapter. (b) A vehicle protection product warrantor's accounts, books, and records must include: (1) copies of all vehicle protection product warranties; (2) the name and address of each warranty holder; and (3) the dates, amounts, and descriptions of all receipts, claims, and expenditures. (c) A vehicle protection product warrantor shall retain all required accounts, books, and records pertaining to each warranty holder for at least two years after the specified period of coverage has expired. A warrantor discontinuing business in this state shall maintain its records until it furnishes the commissioner satisfactory proof that it has discharged all obligations to warranty holders in this state. History:   2007 c 57 art 3 s 29
MN Stat § 59C.10 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 59C — Vehicle Protection Products|Section 59C.10 — Commissioner's Powers And Duties.

59C.10 COMMISSIONER'S POWERS AND DUTIES. Subdivision 1. Examination and compliance powers. The commissioner may conduct examinations of warrantors, administrators, or other persons to enforce this chapter and protect warranty holders in this state. Upon request of the commissioner, a warrantor shall make available to the commissioner all accounts, books, and records concerning vehicle protection products sold by the warrantor and transactions regulated under this chapter that are necessary to enable the commissioner to reasonably determine compliance or noncompliance with this chapter. Subd. 2. Enforcement authority. The commissioner has the enforcement authority in chapter 45 available to enforce the provisions of the chapter and the rules adopted pursuant to it. History:  2007 c 57 art 3 s 30; 2014 c 222 art 1 s 10
MN Stat § 59C.12 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 59C — Vehicle Protection Products|Section 59C.12 — Applicability.

59C.12 APPLICABILITY. This chapter applies to all vehicle protection products sold or offered for sale on or after January 1, 2008. The failure of any person to comply with this chapter before January 1, 2008, is not admissible in any court proceeding, administrative proceeding, arbitration, or alternative dispute resolution proceeding and may not otherwise be used to prove that the action of any person or the affected vehicle protection product was unlawful or otherwise improper. The adoption of this chapter does not imply that a vehicle protection product warranty was insurance before January 1, 2008. Nothing in this section may be construed to require the application of the penalty provisions where this section is not applicable. History:   2007 c 57 art 3 s 31
MN Stat § 59D.01 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 59D — Guaranteed Asset Protection Waivers|Section 59D.01 — Application.

59D.01 APPLICATION. (a) This chapter does not apply to: (1) a policy of insurance offered in compliance with chapters 60A to 79A; (2) a debt cancellation or debt suspension contract, including a guaranteed asset protection waiver, being offered by a banking institution or credit union in compliance with chapter 48 or 52; and (3) a debt cancellation or debt suspension contract being offered in compliance with Code of Federal Regulations, title 12, parts 37, 721, or other federal law. (b) Guaranteed asset protection waivers regulated under this chapter are not insurance and are not subject to chapters 60A to 79A. Persons selling, soliciting, or negotiating guaranteed asset protection waivers to borrowers in compliance with this chapter are exempt from chapter 60K. (c) The commissioner of commerce has the full investigatory authority of chapter 45 to enforce the terms of this chapter. History:   1Sp2015 c 1 art 3 s 3
MN Stat § 59D.02 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 59D — Guaranteed Asset Protection Waivers|Section 59D.02 — Definitions.

59D.02 DEFINITIONS. Subdivision 1. Terms. For purposes of this chapter, the terms defined in subdivisions 2 to 10 have the meanings given them. Subd. 2. Administrator. "Administrator" means a person, other than an insurer or creditor who performs administrative or operational functions pursuant to guaranteed asset protection waiver programs. Subd. 3. Borrower. "Borrower" means a debtor, retail buyer, or lessee under a finance agreement. Subd. 4. Creditor. "Creditor" means: (1) the lender in a loan or credit transaction; (2) the lessor in a lease transaction; (3) a dealer or seller of motor vehicles that provides credit to purchasers of the motor vehicles provided that the entities comply with this section; (4) the seller in commercial retail installment transactions; or (5) the assignees of any of the forgoing to whom the credit obligation is payable. Subd. 5. Finance agreement. "Finance agreement" means a loan, lease, or retail installment sales contract for the purchase or lease of a motor vehicle. Subd. 6. Free-look period. "Free-look period" means the period of time from the effective date of the GAP waiver until the date the borrower may cancel the contract without penalty, fees, or costs to the borrower. This period of time must not be shorter than 30 days. Subd. 7. Guaranteed asset protection waiver. "Guaranteed asset protection waiver" or "GAP waiver" means a contractual agreement wherein a creditor agrees for a separate charge to cancel or waive all or part of amounts due on a borrower's finance agreement in the event of a total physical damage loss or unrecovered theft of the motor vehicle. Subd. 8. Insurer. "Insurer" means an insurance company licensed, registered, or otherwise authorized to do business under Minnesota law. Subd. 9. Motor vehicle. "Motor vehicle" means self-propelled or towed vehicles designed for personal or commercial use, including, but not limited to, automobiles; trucks; motorcycles; recreational vehicles; all-terrain vehicles; snowmobiles; campers; boats; personal watercraft; and motorcycle, boat, camper, and personal watercraft trailers. A creditor is prohibited from selling a GAP waiver in conjunction with the sale or lease of any used motor vehicle that is an automobile or truck that is valued at less than $5,000. Subd. 10. Person. "Person" includes an individual, company, association, organization, partnership, business trust, corporation, and every form of legal entity. History:   1Sp2015 c 1 art 3 s 4
MN Stat § 59D.03 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 59D — Guaranteed Asset Protection Waivers|Section 59D.03 — Commercial Transactions Exempted.

59D.03 COMMERCIAL TRANSACTIONS EXEMPTED. Sections 59D.04, subdivision 3, and 59D.06 do not apply to a guaranteed asset protection waiver offered in connection with a lease or retail installment sale associated with any transaction not for personal, family, or household purposes. History:   1Sp2015 c 1 art 3 s 5
MN Stat § 59D.04 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 59D — Guaranteed Asset Protection Waivers|Section 59D.04 — Guaranteed Asset Protection Waiver Requirements.

59D.04 GUARANTEED ASSET PROTECTION WAIVER REQUIREMENTS. Subdivision 1. Authorization. GAP waivers may be offered, sold, or provided to borrowers in Minnesota in compliance with this chapter. Subd. 2. Payment options. GAP waivers may, at the option of the creditor, be sold for a single payment or may be offered with a monthly or periodic payment option. Subd. 3. Certain costs not considered finance charge or interest. Notwithstanding any other provision of law, any cost to the borrower for a guaranteed asset protection waiver entered into in compliance with United States Code, title 15, sections 1601 to 1667F, and its implementing regulations under Code of Federal Regulations, title 12, part 226, as they may be amended from time to time, must be separately stated and is not to be considered a finance charge or interest. Subd. 4. Insurance. A retail seller must insure its GAP waiver obligations under a contractual liability or other insurance policy issued by an insurer. A creditor, other than a retail seller, may insure its GAP waiver obligations under a contractual liability policy or other such policy issued by an insurer. The insurance policy may be directly obtained by a creditor or retail seller, or may be procured by an administrator to cover a creditor's or retail seller's obligations. Retail sellers that are lessors on motor vehicles are not required to insure obligations related to GAP waivers on leased vehicles. Subd. 5. Financing agreement. The GAP waiver must be part of, or a separate addendum to, the finance agreement and must remain a part of the finance agreement upon the assignment, sale, or transfer of the finance agreement by the creditor. Subd. 6. Purchase restriction. The extension of credit, the terms of the credit, or the terms and conditions of the related motor vehicle sale or lease must not be conditioned upon the purchase of a GAP waiver. Subd. 7. Reporting. A creditor that offers a GAP waiver must report the sale of, and forward funds received on, all such waivers to the designated party, if any, as prescribed in any applicable administrative services agreement, contractual liability policy, other insurance policy, or other specified program documents. Subd. 8. Fiduciary responsibilities. Funds received or held by a creditor or administrator and belonging to an insurer, creditor, or administrator, pursuant to the terms of a written agreement, must be held by the creditor or administrator in a fiduciary capacity. Subd. 9. Defined terms. The terms defined in section 59D.02 are not intended to provide actual terms that are required in guaranteed asset protection waivers. History:   1Sp2015 c 1 art 3 s 6
MN Stat § 59D.05 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 59D — Guaranteed Asset Protection Waivers|Section 59D.05 — Contractual Liability Or Other Insurance Policies.

59D.05 CONTRACTUAL LIABILITY OR OTHER INSURANCE POLICIES. Subdivision 1. Reimbursement or payment statement. Contractual liability or other insurance policies insuring GAP waivers must state the obligation of the insurer to reimburse or pay to the creditor any sums the creditor is legally obligated to waive under the GAP waivers issued by the creditor and purchased or held by the borrower. Subd. 2. Coverage of assignee. Coverage under a contractual liability or other insurance policy insuring a GAP waiver must also cover a subsequent assignee upon the assignment, sale, or transfer of the finance agreement. Subd. 3. Term. Coverage under a contractual liability or other insurance policy insuring a GAP waiver must remain in effect unless canceled or terminated in compliance with applicable laws. Subd. 4. Effect of cancellation or termination. The cancellation or termination of a contractual liability or other insurance policy must not reduce the insurer's responsibility for GAP waivers issued by the creditor before the date of cancellation or termination and for which a premium has been received by the insurer. History:   1Sp2015 c 1 art 3 s 7
MN Stat § 59D.06 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 59D — Guaranteed Asset Protection Waivers|Section 59D.06 — Disclosures.

59D.06 DISCLOSURES. (a) Guaranteed asset protection waivers must disclose, as applicable, in writing and in clear, understandable language that is easy to read, the following: (1) the name and address of the initial creditor and the borrower at the time of sale, and the identity of any administrator if different from the creditor; (2) the purchase price and the terms of the GAP waiver, including without limitation, the requirements for protection, conditions, or exclusions associated with the GAP waiver; (3) that the borrower may cancel the GAP waiver within a free-look period as specified in the waiver, and will be entitled to a full refund of the purchase price, so long as no benefits have been provided; (4) the procedure the borrower must follow, if any, to obtain GAP waiver benefits under the terms and conditions of the waiver, including a telephone number and address where the borrower may apply for waiver benefits; (5) whether or not the GAP waiver is cancelable after the free-look period and the conditions under which it may be canceled or terminated including the procedures for requesting a refund due; (6) that in order to receive a refund due in the event of a borrower's cancellation of the GAP waiver agreement or early termination of the finance agreement after the free-look period of the GAP waiver, the borrower, in accordance with the terms of the waiver, must provide a written cancellation request to the creditor, administrator, or other party. If such a request is being made because of the termination of the finance agreement, notice must be provided to the creditor, administrator, or other party within 90 days of the occurrence of the event terminating the finance agreement; (7) the methodology for calculating a refund of the unearned purchase price of the GAP waiver due in the event of cancellation of the GAP waiver or early termination of the finance agreement; and (8) that the extension of credit, the terms of the credit, or the terms and conditions of the related motor vehicle sale or lease are not conditioned upon the purchase of the GAP waiver. (b) The creditor or any person offering a GAP waiver must provide the following verbatim disclosure in bold, 14-point type, either in a separate writing or as part of the agreement: "THE GAP WAIVER IS OPTIONAL. YOU DO NOT HAVE TO PURCHASE THIS PRODUCT IN ORDER TO BUY [OR LEASE] THIS MOTOR VEHICLE. YOU ALSO HAVE A LIMITED RIGHT TO CANCEL." History:   1Sp2015 c 1 art 3 s 8
MN Stat § 59D.07 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 59D — Guaranteed Asset Protection Waivers|Section 59D.07 — Cancellation; Refunds.

59D.07 CANCELLATION; REFUNDS. Subdivision 1. Refund requirements during free-look period. A GAP waiver must provide that, if a borrower cancels a waiver within the free-look period, the borrower will be entitled to a full refund of the purchase price, so long as no benefits have been provided. Subd. 2. Refund requirements after free-look period. (a) Guaranteed asset protection waivers may be cancelable or noncancelable after the free-look period. (b) In the event of a borrower's cancellation of the GAP waiver or early termination of the finance agreement, after the agreement has been in effect beyond the free-look period, the borrower may be entitled to a refund of any unearned portion of the purchase price of the waiver unless the waiver provides otherwise. In order to receive a refund, the borrower, in accordance with any applicable terms of the waiver, must provide a written request to the creditor, administrator, or other party. If such a request is being made because of the termination of the finance agreement, notice must be provided to the creditor, administrator, or other party within 90 days of the occurrence of the event terminating the finance agreement. (c) If the cancellation of a GAP waiver occurs as a result of a default under the finance agreement or the repossession of the motor vehicle associated with the finance agreement, or any other termination of the finance agreement, any refund due may be paid directly to the creditor or administrator and applied as set forth in subdivision 3. Subd. 3. How applied. A refund under subdivision 1 or 2 may be applied by the creditor as a reduction of the amount owed under the finance agreement, unless the borrower can show that the finance agreement has been paid in full. History:   1Sp2015 c 1 art 3 s 9
MN Stat § 60A.01 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60A — General Insurance Powers|Section 60A.01 — Scope.

60A.01 SCOPE. This chapter includes the provisions relating to administration in general and the provisions applicable to insurance in general. History:   1967 c 395 art 1 s 1
MN Stat § 60A.032 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60A — General Insurance Powers|Section 60A.032 — Commissioner's Orders, Report.

60A.032 COMMISSIONER'S ORDERS, REPORT. When, upon receipt of an examination report, the commissioner forwards to the company an order based on the report, the commissioner shall immediately report the fact to the governor and the attorney general. Within 20 days after submission of the report the commissioner shall submit to the governor and attorney general a supplementary report if the company has not complied with the order. History:  1969 c 7 s 1; 1986 c 444
MN Stat § 60A.035 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60A — General Insurance Powers|Section 60A.035 — Government Controlled Or Owned Company Prohibited From Transacting Business.

60A.035 GOVERNMENT CONTROLLED OR OWNED COMPANY PROHIBITED FROM TRANSACTING BUSINESS. (a) No insurance company the voting control or ownership of which is held in whole or substantial part by any government or governmental agency or entity having a tax exemption under section 501(c)(27)(B) or 115 of the Internal Revenue Code of 1986 or which is operated for or by any such government or agency or entity having a tax exemption under section 501(c)(27)(B) or 115 of the Internal Revenue Code of 1986 is authorized to transact insurance in this state. Membership in a mutual company, subscribership in a reciprocal insurer, ownership of stock of an insurer by the alien property custodian or similar official of the United States, or supervision of an insurer by public insurance supervisory authority is not considered to be an ownership, control, or operation of the insurer for the purposes of this section. (b) This section does not apply to an insurance company if its sole insurance business in this state is providing workers' compensation insurance and associated employers' liability coverage to an employer principally located in the insurer's state of domicile whose employee may receive benefits under section 176.041, subdivision 4, provided the operations of the employer are for fewer than 30 consecutive days in this state and provided the employer has no other significant contacts with this state. (c) This section does not apply to a fund established under section 16B.85, subdivision 2. History:   1Sp2003 c 1 art 4 s 1
MN Stat § 60A.078 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60A — General Insurance Powers|Section 60A.078 — Short Title.

60A.078 SHORT TITLE. Sections 60A.078 to 60A.0789 may be cited as the "Insurable Interest Act." History:   2009 c 52 s 1