reglab/housing_qa huggingface dataset:
MN Stat § 60A.9581 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60A — General Insurance Powers|Section 60A.9581 — Prohibited Practices And Conflicts Of Interest.

60A.9581 PROHIBITED PRACTICES AND CONFLICTS OF INTEREST. Subdivision 1. Solicitations and sales to controlled person. With respect to any viatical settlement contract or insurance policy, no viatical settlement broker knowingly shall solicit an offer from, effectuate a viatical settlement with, or make a sale to any viatical settlement provider, viatical settlement purchaser, viatical settlement investment agent, financing entity, or related provider trust that is controlling, controlled by, or under common control with the viatical settlement broker unless this relationship is disclosed to the viator. Subd. 2. Payment to controlled broker. With respect to any viatical settlement contract or insurance policy, no viatical settlement provider knowingly may enter into a viatical settlement contract with a viator, if, in connection with a viatical settlement contract, anything of value will be paid to a viatical settlement broker that is controlling, controlled by, or under common control with the viatical settlement provider or the viatical settlement purchaser, viatical settlement investment agent, financing entity, or related provider trust that is involved in a viatical settlement contract unless this relationship is disclosed to the viator. Subd. 3. Fraudulent viatical settlement act. A violation of subdivisions 1 and 2 is deemed a fraudulent viatical settlement act. Subd. 4. Advertising. (a) No viatical settlement provider shall enter into a viatical settlement contract unless the viatical settlement promotional, advertising, and marketing materials, as may be prescribed by rule, have been filed with the commissioner. In no event shall any marketing materials expressly reference that the insurance is "free" for any period of time. The inclusion of any reference in the marketing materials that would cause a viator to reasonably believe that the insurance is free for any period of time shall be considered a violation of sections 60A.957 to 60A.9585. (b) No life insurance producer, insurance company, viatical settlement broker, viatical settlement provider, or viatical settlement investment agent shall make any statement or representation to the applicant or policyholder in connection with the sale or financing of a life insurance policy to the effect that the insurance is free or without cost to the policyholder for any period of time unless provided in the policy. History:   2009 c 62 s 9
MN Stat § 60A.9585 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60A — General Insurance Powers|Section 60A.9585 — Unfair Trade Practice.

60A.9585 UNFAIR TRADE PRACTICE. A violation of sections 60A.957 to 60A.9585, including the commission of a fraudulent viatical settlement act, shall be considered an unfair trade practice under section 72A.20. History:   2009 c 62 s 12
MN Stat § 60A.964 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60A — General Insurance Powers|Section 60A.964 — Fees.

60A.964 FEES. Subdivision 1. Amount. The licensing fee for a viatical settlement provider, viatical settlement broker, or viatical settlement investment agent license is $750 for initial licensure and $250 for each annual renewal. The fees must be limited to the cost of license administration and enforcement and must be deposited in the state treasury, credited to a special account, and appropriated to the commissioner. Subd. 2. Automatic revocation. A license is automatically revoked for failure to pay the licensing fee within the terms prescribed by the commissioner. History:  1995 c 151 s 5; 1999 c 250 art 3 s 6; 2009 c 62 s 13
MN Stat § 60A.975 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60A — General Insurance Powers|Section 60A.975 — Definitions.

60A.975 DEFINITIONS. Subdivision 1. Application. For purposes of sections 60A.975 and 60A.976, the definitions in this section have the meanings given them. Subd. 2. Annuity issuer. "Annuity issuer" means an insurer that issues an insurance contract used to fund periodic payments under a structured settlement agreement. Subd. 3. Structured settlement. "Structured settlement" means an arrangement for periodic payment of damages entered on behalf of a minor or incompetent person for personal injuries established by settlement or judgment. Subd. 4. Structured settlement agreement. "Structured settlement agreement" means the agreement, judgment, stipulation, or release embodying the terms of a structured settlement. History:   2001 c 131 s 4
MN Stat § 60A.976 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60A — General Insurance Powers|Section 60A.976 — Annuity Issuers Financial Requirements.

60A.976 ANNUITY ISSUERS FINANCIAL REQUIREMENTS. An annuity purchased to finance a structured settlement agreement may be purchased only from an annuity issuer with a financial rating equivalent to A.M. Best Company A+ Class 8 or better; or a Standard & Poor's AA or better. History:   2001 c 131 s 5
MN Stat § 60A.9852 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60A — General Insurance Powers|Section 60A.9852 — Investigation Of A Cybersecurity Event.

60A.9852 INVESTIGATION OF A CYBERSECURITY EVENT. Subdivision 1. Prompt investigation. If the licensee learns that a cybersecurity event has or may have occurred, the licensee, or an outside vendor or service provider designated to act on behalf of the licensee, shall conduct a prompt investigation. Subd. 2. Investigation contents. During the investigation, the licensee, or an outside vendor or service provider designated to act on behalf of the licensee, shall, at a minimum and to the extent possible: (1) determine whether a cybersecurity event has occurred; (2) assess the nature and scope of the cybersecurity event, if any; (3) identify whether any nonpublic information was involved in the cybersecurity event and, if so, what nonpublic information was involved; and (4) perform or oversee reasonable measures to restore the security of the information systems compromised in the cybersecurity event in order to prevent further unauthorized acquisition, release, or use of nonpublic information in the licensee's possession, custody, or control. Subd. 3. Third-party systems. If the licensee learns that a cybersecurity event has or may have occurred in a system maintained by a third-party service provider, the licensee will complete the steps listed in subdivision 2 or confirm and document that the third-party service provider has completed those steps. Subd. 4. Records. The licensee shall maintain records concerning all cybersecurity events for a period of at least five years from the date of the cybersecurity event and shall produce those records upon demand of the commissioner. History:   1Sp2021 c 4 art 3 s 7
MN Stat § 60A.9854 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60A — General Insurance Powers|Section 60A.9854 — Power Of Commissioner.

60A.9854 POWER OF COMMISSIONER. (a) The commissioner of commerce or commissioner of health, whichever commissioner otherwise regulates the licensee, shall have power to examine and investigate into the affairs of any licensee to determine whether the licensee has been or is engaged in any conduct in violation of sections 60A.985 to 60A.9857. This power is in addition to the powers which the commissioner has under section 60A.031. Any such investigation or examination shall be conducted pursuant to section 60A.031. (b) Whenever the commissioner of commerce or commissioner of health has reason to believe that a licensee has been or is engaged in conduct in this state which violates sections 60A.985 to 60A.9857, the commissioner of commerce or commissioner of health may take action that is necessary or appropriate to enforce those sections. History:   1Sp2021 c 4 art 3 s 9
MN Stat § 60A.9856 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60A — General Insurance Powers|Section 60A.9856 — Exceptions.

60A.9856 EXCEPTIONS. Subdivision 1. Generally. The following exceptions shall apply to sections 60A.985 to 60A.9857: (1) a licensee with fewer than 25 employees is exempt from sections 60A.9851 and 60A.9852; (2) a licensee subject to and in compliance with the Health Insurance Portability and Accountability Act, Public Law 104-191, 110 Stat. 1936 (HIPAA), is considered to comply with sections 60A.9851, 60A.9852, and 60A.9853, subdivisions 3 to 5, provided the licensee submits a written statement certifying its compliance with HIPAA; (3) a licensee affiliated with a depository institution that maintains an information security program in compliance with the interagency guidelines establishing standards for safeguarding customer information as set forth pursuant to United States Code, title 15, sections 6801 and 6805, shall be considered to meet the requirements of section 60A.9851 provided that the licensee produce, upon request, documentation satisfactory to the commission that independently validates the affiliated depository institution's adoption of an information security program that satisfies the interagency guidelines; (4) an employee, agent, representative, or designee of a licensee, who is also a licensee, is exempt from sections 60A.9851 and 60A.9852 and need not develop its own information security program to the extent that the employee, agent, representative, or designee is covered by the information security program of the other licensee; and (5) an employee, agent, representative, or designee of a producer licensee, as defined under section 60K.31, subdivision 6, who is also a licensee, is exempt from sections 60A.985 to 60A.9857. Subd. 2. Exemption lapse; compliance. In the event that a licensee ceases to qualify for an exception, such licensee shall have 180 days to comply with sections 60A.985 to 60A.9858. History:   1Sp2021 c 4 art 3 s 11
MN Stat § 60A.9857 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60A — General Insurance Powers|Section 60A.9857 — Penalties.

60A.9857 PENALTIES. In the case of a violation of sections 60A.985 to 60A.9856, a licensee may be penalized in accordance with section 60A.052. History:   1Sp2021 c 4 art 3 s 12
MN Stat § 60A.9858 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60A — General Insurance Powers|Section 60A.9858 — Exclusivity.

60A.9858 EXCLUSIVITY. Notwithstanding any other provision of law, sections 60A.985 to 60A.9857 establish the exclusive state standards applicable to licensees for data security, the investigation of a cybersecurity event, and notification of a cybersecurity event. History:   1Sp2021 c 4 art 3 s 13
MN Stat § 60A.991 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60A — General Insurance Powers|Section 60A.991 — Interstate Insurance Product Regulation Compact Opt Out Administration.

60A.991 INTERSTATE INSURANCE PRODUCT REGULATION COMPACT OPT OUT ADMINISTRATION. Subdivision 1. Access to courts. The commissioner must opt out by regulation of any uniform standard that permits a product to deny a consumer's access to the courts to resolve a dispute related to the product. In addition to opting out, the commissioner must petition the commission for a stay of the effective date of the standard. Subd. 2. Deference by courts. A decision by the commissioner to opt out by regulation shall be given deference by the courts. History:   2006 c 255 s 4
MN Stat § 60B.01 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60B — Rehabilitation And Liquidation|Section 60B.01 — Title, Construction, And Purpose.

60B.01 TITLE, CONSTRUCTION, AND PURPOSE. Subdivision 1. Short title. Sections 60B.01 to 60B.61 may be cited as the "Insurers Rehabilitation and Liquidation Act" and shall appear in the next edition of Minnesota Statutes as chapter 60B but subject to the provisions of section 3C.10, subdivision 1. Subd. 2. Construction; no limitation of powers. Sections 60B.01 to 60B.61 shall not be interpreted to limit the powers granted the commissioner by other provisions of the law. Subd. 3. Liberal construction. Sections 60B.01 to 60B.61 shall be liberally construed to effect the purpose stated in subdivision 4. Subd. 4. Purpose. The purpose of sections 60B.01 to 60B.61 is the protection of the interests of insureds, creditors, and the public generally, with minimum interference with the normal prerogatives of proprietors, through: (a) early detection of any potentially dangerous condition in an insurer, and prompt application of appropriate corrective measures, neither unduly harsh nor subject to the kind of publicity that would needlessly damage or destroy the insurer; (b) improved methods for rehabilitating insurers, by enlisting the advice and management expertise of the insurance industry; (c) enhanced efficiency and economy of liquidation, through clarification and specification of the law, to minimize legal uncertainty and litigation; (d) equitable apportionment of any unavoidable loss; (e) lessening the problems of interstate rehabilitation and liquidation by facilitating cooperation between states in the liquidation process, and by extension of the scope of personal jurisdiction over debtors of the insurer outside this state; and (f) regulation of the insurance business by the impact of the law relating to delinquency procedures and substantive rules on the entire insurance business. History:  1969 c 708 s 1; 1984 c 480 s 16; 1984 c 655 art 2 s 19 subd 4
MN Stat § 60B.02 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60B — Rehabilitation And Liquidation|Section 60B.02 — Persons Covered.

60B.02 PERSONS COVERED. The proceedings authorized by sections 60B.01 to 60B.61 may be applied to: (1) all insurers who are doing, or have done, an insurance business in this state, and against whom claims arising from that business may exist now or in the future; (2) all insurers who purport to do an insurance business in this state; (3) all insurers who have insureds resident in this state; (4) all other persons organized or in the process of organizing with the intent to do an insurance business in this state; and (5) all nonprofit service plan corporations incorporated or operating under the Nonprofit Health Service Plan Corporation Act, all health maintenance organizations operating under chapter 62D, any health plan incorporated under chapter 317A, all fraternal benefit societies operating under chapter 64B, except those associations enumerated in section 64B.38, all township mutual or other companies operating under chapter 67A, and all reciprocals or interinsurance exchanges operating under chapter 71A. History:  1969 c 708 s 2; 1971 c 568 s 24; 1985 c 49 s 41; 1989 c 304 s 137; 1992 c 564 art 1 s 54; 1995 c 186 s 16; 1995 c 234 art 1 s 1; 1997 c 225 art 2 s 62; 2020 c 80 art 2 s 1
MN Stat § 60B.05 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60B — Rehabilitation And Liquidation|Section 60B.05 — Injunctions And Orders.

60B.05 INJUNCTIONS AND ORDERS. Subdivision 1. Injunctions in this state. Any receiver appointed in a proceeding under sections 60B.01 to 60B.61 may at any time apply for and any court of general jurisdiction in this state may grant, under the relevant sections of rules of Minnesota Rules of Civil Procedure, such restraining orders, temporary and permanent injunctions, and other orders as are deemed necessary and proper to prevent: (a) the transaction of further business; (b) the transfer of property; (c) interference with the receiver or with the proceedings; (d) waste of the insurer's assets; (e) dissipation and transfer of bank accounts; (f) the institution or further prosecution of any actions or proceedings; (g) the obtaining of preferences, judgments, attachments, garnishments, or liens against the insurer or its assets; (h) the levying of execution against the insurer or its assets; (i) the making of any sale or deed for nonpayment of taxes or assessments that would lessen the value of the assets of the insurer; (j) the withholding from the receiver of books, accounts, documents, or other records relating to the business of the insurer; or (k) any other threatened or contemplated action that might lessen the value of the insurer's assets or prejudice the rights of policyholders, creditors, or shareholders or the administration of the proceeding. Subd. 2. Injunctions elsewhere. The receiver may apply to any court outside of this state for the relief described in subdivision 1. History:   1969 c 708 s 5
MN Stat § 60B.06 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60B — Rehabilitation And Liquidation|Section 60B.06 — Costs And Expenses Of Litigation.

60B.06 COSTS AND EXPENSES OF LITIGATION. In any proceeding under sections 60B.01 to 60B.61, the court may award such costs and other expenses of litigation as justice requires, without regard to the limitations otherwise prescribed by law. If costs and expenses are taxed against the commissioner, they shall be paid from funds appropriated to the Department of Commerce. History:  1969 c 708 s 6; 1983 c 289 s 114 subd 1; 1984 c 655 art 1 s 92
MN Stat § 60B.07 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60B — Rehabilitation And Liquidation|Section 60B.07 — Cooperation Of Officers And Employees.

60B.07 COOPERATION OF OFFICERS AND EMPLOYEES. Subdivision 1. Duty to cooperate. Any officer, manager, trustee, agent or general agent of any insurer and any other person with executive authority over or in charge of any segment of the insurer's affairs having notice of the proceedings shall cooperate with the commissioner in any proceeding under sections 60B.01 to 60B.61 or any investigation preliminary or incidental to the proceeding. "To cooperate" includes, but is not limited to, the following: (a) to reply promptly in writing to any inquiry from the commissioner requesting such a reply; and (b) to make available and deliver to the commissioner any books, accounts, documents, or other records, or information or property of or pertaining to the insurer and in that person's possession, custody, or control. Subd. 2. Duty not to obstruct. No person shall obstruct or interfere with the commissioner in the conduct of any delinquency proceeding or any investigation preliminary or incidental thereto. Subd. 3. Right to defend. This section shall not render it illegal to resist by legal proceedings the petition for liquidation or other delinquency proceedings, other orders or the request or demand for cooperation under subdivision 1. Subd. 4. Sanction. Any person included within subdivision 1 who fails to cooperate with the commissioner, or any person who obstructs or interferes with the commissioner in the conduct of any delinquency proceeding or any investigation preliminary or incidental thereto, may be fined not more than $10,000 or imprisoned in the county jail not more than one year or both. History:  1969 c 708 s 7; 1984 c 628 art 3 s 11; 1986 c 444
MN Stat § 60B.09 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60B — Rehabilitation And Liquidation|Section 60B.09 — Commissioner's Reports.

60B.09 COMMISSIONER'S REPORTS. Subdivision 1. General report of proceedings. The commissioner shall include in a biennial report: (a) the names of the insurers proceeded against under sections 60B.15, 60B.20, 60B.52, 60B.53, and 60B.55, and such other facts as indicate in reasonable detail formal proceedings under sections 60B.01 to 60B.61; and (b) such facts as generally indicate the utilization and effectiveness of proceedings under sections 60B.11, 60B.12, and 60B.13. Subd. 2. Special reports. (a) The commissioner shall include in the biennial report, not later than the second biennial report following the initiation of any formal proceedings under sections 60B.01 to 60B.61, a detailed analysis of the basic causes and the contributing factors making the initiation of formal proceedings necessary, and shall make recommendations for remedial legislation if any. For this purpose the commissioner may appoint and determine the compensation of a special assistant who shall be in the unclassified service, qualified to conduct the study and prepare the analysis. (b) The commissioner shall include in the biennial report, not later than the biennial report following discharge of the receiver, a detailed study of the delinquency proceeding for each insurer subjected to a formal proceeding, with an analysis of the problems faced and their solutions. The commissioner shall also suggest alternative solutions, as well as other material of interest, for the purpose of assisting and guiding liquidators or rehabilitators in the future. Subd. 3. Reports on insurers subject to proceedings. The commissioner as receiver shall make and file annual reports and any other required reports for the companies proceeded against under sections 60B.15, 60B.20, 60B.52, 60B.53, and 60B.55 in the manner and form and within the time required by law of insurers authorized to do business in this state, and under the same penalties for failure to do so. History:  1969 c 708 s 9; 1982 c 560 s 40; 1986 c 444; 1994 c 465 art 2 s 6,7
MN Stat § 60B.10 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60B — Rehabilitation And Liquidation|Section 60B.10 — Continuation Of Delinquency Proceedings.

60B.10 CONTINUATION OF DELINQUENCY PROCEEDINGS. Every proceeding commenced before May 25, 1969 is deemed to have commenced under sections 60B.01 to 60B.61 for the purpose of conducting the proceeding thereafter, except that in the discretion of the commissioner the proceeding may be continued, in whole or in part, as it would have been continued had sections 60B.01 to 60B.61 not been enacted. History:   1969 c 708 s 10