reglab/housing_qa huggingface dataset:
MN Stat § 59A.10 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 59A — Insurance Premium Finance Companies|Section 59A.10 — Default Charges.

59A.10 DEFAULT CHARGES. Subdivision 1. Delinquencies. A premium finance agreement may provide for payment by the insured of a delinquency charge. The delinquency charge may not exceed five percent of the delinquent installment. The delinquency charge may be imposed upon any installment which is in default for a period of ten days or more. Subd. 2. Cancellations and collections. If the default results in the cancellation or subsequent reinstatement of any insurance contract listed in the agreement, the agreement may provide for payment by the insured of a cancellation charge of $10. A premium finance agreement may also provide for the payment of statutory attorneys fees and statutory court costs if the agreement is referred for collection to an attorney not a salaried employee of the insurance premium finance company. History:  1974 c 353 s 10; 1991 c 283 s 1
MN Stat § 59A.12 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 59A — Insurance Premium Finance Companies|Section 59A.12 — Application Of Unearned Premiums.

59A.12 APPLICATION OF UNEARNED PREMIUMS. Subdivision 1. Pro rata return after cancellation. Whenever a financed insurance contract is canceled, within 30 days of the effective date of cancellation, if the premium finance company has notified the insurer that the premiums are financed, the insurer shall return whatever gross unearned premiums, computed pro rata, are due under the insurance contract to the premium finance company for the account of the insured or insureds. This action by the insurer satisfies the insurer's obligations under the insurance contract which relate to the return of the unearned premiums. Subd. 2. Premium audit; determination of final premium amount. In the event that a premium is subject to an audit to determine the final premium amount, the gross unearned premium will be calculated upon the deposit premium and the insurer shall return whatever gross unearned premiums are due based upon the deposit rather than the actual unearned premium to the finance company for the account of the insured or insureds. Subd. 3. Assigned risk policies. Assigned risk policies shall be handled in conformance with section 59A.11 and subdivisions 1 and 2. Subd. 4. Refund to insured. If the crediting of returned premiums to the account of the insured results in a surplus over the amount due from the insured, the premium finance company must refund the excess to the insured within 30 days after receipt of the returned premium; but no refund is required if it amounts to less than $1. Subd. 5. Return of unearned premium; notice to policyholder. Whenever an insurer, after having been advised that an insurance policy has been financed by a premium finance agreement, returns an unearned premium on such a policy, the insurer shall deliver or mail to the policyholder a notice that includes the following information: the amount of premium paid, the term of the policy, the date coverage began and ceased, the amount of the unearned premium, the name of the party receiving the funds, and a statement of the obligation of the premium finance company to return within 30 days of receipt of the unearned premium any amount of the unearned premium in excess of the amount owed by the policyholder to the premium finance company. History:  1974 c 353 s 12; 1983 c 200 s 4,5; 1992 c 564 art 1 s 12; 1994 c 485 s 3
MN Stat § 59A.13 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 59A — Insurance Premium Finance Companies|Section 59A.13 — Exemption From Filing.

59A.13 EXEMPTION FROM FILING. No filing of the premium finance agreement or recording of a premium finance transaction shall be necessary to perfect the validity of the agreement as a secured transaction as against creditors, subsequent purchasers, pledgees, encumbrances, successors or assigns. History:   1974 c 353 s 13
MN Stat § 59A.15 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 59A — Insurance Premium Finance Companies|Section 59A.15 — Applicability Of Chapter 14.

59A.15 APPLICABILITY OF CHAPTER 14. The provisions of chapter 14 shall apply to sections 59A.01 to 59A.15. History:  1974 c 353 s 15; 1982 c 424 s 130
MN Stat § 59B.01 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 59B — Regulation Of Service Contracts|Section 59B.01 — Scope And Purpose.

59B.01 SCOPE AND PURPOSE. (a) The purpose of this chapter is to create a legal framework within which service contracts may be sold in this state. (b) The following are exempt from this chapter: (1) warranties; (2) maintenance agreements; (3) warranties, service contracts, or maintenance agreements offered by public utilities, as defined in section 216B.02, subdivision 4, or an entity or operating unit owned by or under common control with a public utility; (4) service contracts sold or offered for sale to persons other than consumers; (5) service contracts on tangible property where the tangible property for which the service contract is sold has a purchase price of $250 or less, exclusive of sales tax; (6) service contracts for home security equipment installed by a licensed technology systems contractor; and (7) motor club membership contracts that typically provide roadside assistance services to motorists stranded for reasons that include, but are not limited to, mechanical breakdown or adverse road conditions. (c) The types of agreements referred to in paragraph (b) are not subject to chapters 60A to 79A, except as otherwise specifically provided by law. (d) Service contracts issued by motor vehicle manufacturers covering private passenger automobiles are only subject to sections 59B.03, subdivision 5, 59B.05, and 59B.07. (e) All warranty service contracts are deemed to be made in Minnesota for the purpose of arbitration. History:  1Sp2005 c 1 art 5 s 1; 2008 c 344 s 2; 2009 c 178 art 1 s 4
MN Stat § 59B.04 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 59B — Regulation Of Service Contracts|Section 59B.04 — Required Disclosures; Reimbursement Insurance Policy.

59B.04 REQUIRED DISCLOSURES; REIMBURSEMENT INSURANCE POLICY. Subdivision 1. Right to payment or reimbursement. Reimbursement insurance policies insuring service contracts issued, sold, or offered for sale in this state shall state that the insurer that issued the reimbursement insurance policy shall either reimburse or pay on behalf of the provider any covered sums the provider is legally obligated to pay or, in the event of the provider's nonperformance, shall provide the service which the provider is legally obligated to perform according to the provider's contractual obligations under the service contracts issued or sold by the provider. Subd. 2. Right to apply to company. In the event covered service is not provided by the service contract provider within 60 days of proof of loss by the service contract holder, the contract holder is entitled to apply directly to the reimbursement insurance company. History:   1Sp2005 c 1 art 5 s 4
MN Stat § 59B.06 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 59B — Regulation Of Service Contracts|Section 59B.06 — Additional Required Disclosure; Service Contracts.

59B.06 ADDITIONAL REQUIRED DISCLOSURE; SERVICE CONTRACTS. Subdivision 1. Insurance disclosure. Service contracts insured under a reimbursement insurance policy pursuant to section 59B.03, subdivision 4, clause (1), must contain a statement in substantially the following form: "Obligations of the provider under this service contract are insured under a service contract reimbursement insurance policy." The service contract must also state the name and address of the insurer. Subd. 2. Disclosure of no insurance. Service contracts not insured under a reimbursement insurance policy pursuant to section 59B.03, subdivision 4, clause (1), must contain a statement in substantially the following form: "Obligations of the provider under this service contract are backed by the full faith and credit of the provider." History:   1Sp2005 c 1 art 5 s 6
MN Stat § 59B.07 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 59B — Regulation Of Service Contracts|Section 59B.07 — Prohibited Acts.

59B.07 PROHIBITED ACTS. Subdivision 1. Deceptive names. A provider shall not use in its name the words insurance, casualty, surety, mutual, or any other words descriptive of the insurance, casualty, or surety business; or a name deceptively similar to the name or description of any insurance or surety corporation, or to the name of any other provider. The word "guaranty" or similar word may be used by a provider. This section does not apply to a company that was using any of the prohibited language in its name before January 1, 2006. However, a company using the prohibited language in its name shall include in its service contracts a statement in substantially the following form: "This agreement is not an insurance contract." Subd. 2. False or misleading statements. A provider or its representative shall not in its service contracts, literature, or otherwise make, permit, or cause to be made any false or misleading statement or omit any material statement that would be considered misleading if omitted. Subd. 3. Required purchase. A person, such as a bank, savings association, lending institution, manufacturer, or seller of any product shall not require the purchase of a service contract as a condition of a loan or a condition for the sale of any property. History:   1Sp2005 c 1 art 5 s 7
MN Stat § 59B.08 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 59B — Regulation Of Service Contracts|Section 59B.08 — Record-keeping Requirements.

59B.08 RECORD-KEEPING REQUIREMENTS. Subdivision 1. Generally. The provider shall keep accurate accounts, books, and records concerning transactions regulated under this chapter. The provider's accounts, books, and records include the following: (1) copies of each type of service contracts sold; (2) the name and address of each service contract holder to the extent that the name and address have been furnished by the service contract holder; (3) a list of the locations where service contracts are marketed, sold, or offered for sale; and (4) written claims files which shall contain information regarding the services provided or claims payments for contracts that provide for payments or reimbursement, including at least the dates and description of claims related to the service contracts. Subd. 2. Retention. (a) Except as provided in paragraph (b), the provider shall retain all records required to be maintained by this section for at least three years after the specified period of coverage has expired. (b) A provider discontinuing business in this state shall maintain its records until it furnishes the commissioner satisfactory proof that it has discharged all obligations to contract holders in this state. Subd. 3. Medium. The records required by this chapter may be, but are not required to be, maintained on a computer disk or other record-keeping technology. If the records are maintained in other than hard copy, the records must be capable of duplication to legible hard copy at the request of the commissioner. History:   1Sp2005 c 1 art 5 s 8
MN Stat § 59B.09 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 59B — Regulation Of Service Contracts|Section 59B.09 — Termination Of Reimbursement Insurance Policy.

59B.09 TERMINATION OF REIMBURSEMENT INSURANCE POLICY. An insurer that issued a reimbursement insurance policy may not terminate the policy unless the insurer mails or delivers written notice of the termination to the commissioner at least 30 days before the effective date of termination. The termination of a reimbursement insurance policy does not reduce the issuer's responsibility for service contracts issued by providers before the date of the termination. History:   1Sp2005 c 1 art 5 s 9
MN Stat § 59B.10 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 59B — Regulation Of Service Contracts|Section 59B.10 — Obligation Of Reimbursement Insurance Policy Insurers.

59B.10 OBLIGATION OF REIMBURSEMENT INSURANCE POLICY INSURERS. Insurers issuing reimbursement insurance to providers are deemed to have received the premiums for the insurance upon the payment of provider fees by consumers for service contracts issued by the insured providers. Nothing in this chapter prevents or limits the right of an insurer that issued a reimbursement insurance policy to seek indemnification or subrogation against a provider if the issuer pays or is obligated to pay the service contract holder sums that the provider was obligated to pay pursuant to the provisions of the service contract. History:   1Sp2005 c 1 art 5 s 10
MN Stat § 59B.11 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 59B — Regulation Of Service Contracts|Section 59B.11 — Severability Provision.

59B.11 SEVERABILITY PROVISION. If any provision of this chapter or the application of the provision to any person or circumstances are held invalid, the remainder of this chapter and the application of the provision to person or circumstances other than those as to which it is held invalid, must not be affected. History:   1Sp2005 c 1 art 5 s 11
MN Stat § 59C.01 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 59C — Vehicle Protection Products|Section 59C.01 — Short Title.

59C.01 SHORT TITLE. This chapter may be cited as the "Vehicle Protection Product Act." History:   2007 c 57 art 3 s 21
MN Stat § 59C.03 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 59C — Vehicle Protection Products|Section 59C.03 — Scope And Exemptions.

59C.03 SCOPE AND EXEMPTIONS. (a) No vehicle protection product may be sold or offered for sale in this state unless the seller, warrantor, and administrator, if any, comply with the provisions of this chapter. (b) Vehicle protection product warrantors and related vehicle protection product sellers and warranty administrators complying with this chapter are not required to comply with and are not subject to any other provision of chapters 59B to 72A, except that section 72A.20, subdivision 38, shall apply to vehicle protection product warranties in the same manner it applies to service contracts. (c) Service contract providers who do not sell vehicle protection products are not subject to the requirements of this chapter and sales of vehicle protection products are exempt from the requirements of chapter 59B. (d) Warranties, indemnity agreements, and guarantees that are not provided as a part of a vehicle protection product are not subject to the provisions of this chapter. History:   2007 c 57 art 3 s 23
MN Stat § 59C.04 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 59C — Vehicle Protection Products|Section 59C.04 — Registration And Filing Requirements Of Warrantors.

59C.04 REGISTRATION AND FILING REQUIREMENTS OF WARRANTORS. Subdivision 1. General requirement.  A person may not operate as a warrantor or represent to the public that the person is a warrantor unless the person is registered with the department on a form prescribed by the commissioner. Subd. 2. Registration records. A registrant shall file a warrantor registration record annually and shall update it within 30 days of any change. A registration record must contain the following information: (1) the warrantor's name, any fictitious names under which the warrantor does business in the state, principal office address, and telephone number; (2) the name and address of the warrantor's agent for service of process in the state if other than the warrantor; (3) the names of the warrantor's executive officer or officers directly responsible for the warrantor's vehicle protection product business; (4) the name, address, and telephone number of any administrators designated by the warrantor to be responsible for the administration of vehicle protection product warranties in this state; (5) a copy of the warranty reimbursement insurance policy or policies or other financial information required by section 59C.05; (6) a copy of each warranty the warrantor proposes to use in this state; and (7) a statement indicating under which provision of section 59C.05 the warrantor qualifies to do business in this state as a warrantor. Subd. 3. Registration fee. The commissioner may charge each registrant a reasonable fee to offset the cost of processing the registration and maintaining the records in an amount of $250 annually. The information in subdivision 2, clauses (1) and (2), must be made available to the public. Subd. 4. Renewal. The registrant will have 30 days to complete the renewal of the registration before the commissioner suspends the registration. Subd. 5. Exception.  An administrator or person who sells or solicits a sale of a vehicle protection product but who is not a warrantor shall not be required to register as a warrantor or be licensed under the insurance laws of this state to sell vehicle protection products. History:   2007 c 57 art 3 s 24
MN Stat § 59C.05 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 59C — Vehicle Protection Products|Section 59C.05 — Financial Responsibility.

59C.05 FINANCIAL RESPONSIBILITY. Subdivision 1. General requirements. No vehicle protection product may be sold, or offered for sale in this state unless the warrantor meets either the requirements of subdivision 2 or 3 in order to ensure adequate performance under the warranty. No other financial security requirements or financial standards for warrantors is required. Subd. 2. Warranty reimbursement insurance policy. The vehicle protection product warrantor shall be insured under a warranty reimbursement insurance policy issued by an insurer authorized to do business in this state which provides that: (1) the insurer will pay to, or on behalf of the warrantor, 100 percent of all sums that the warrantor is legally obligated to pay according to the warrantor's contractual obligations under the warrantor's vehicle protection product warranty; (2) a true and correct copy of the warranty reimbursement insurance policy has been filed with the commissioner by the warrantor; and (3) the policy contains the provision required in section 59C.06. Subd. 3. Network or stockholder's equity. (1) The vehicle protection product warrantor, or its parent company in accordance with clause (2), shall maintain a net worth or stockholders' equity of $50,000,000; and (2) the warrantor shall provide the commissioner with a copy of the warrantor's or the warrantor's parent company's most recent Form 10-K or Form 20-F filed with the Securities and Exchange Commission within the last calendar year or, if the warrantor does not file with the Securities and Exchange Commission, a copy of the warrantor or the warrantor's parent company's audited financial statements that shows a net worth of the warrantor or its parent company of at least $50,000,000. If the warrantor's parent company's Form 10-K, Form 20-F, or audited financial statements are filed to meet the warrantor's financial stability requirement, then the parent company shall agree to guarantee the obligations of the warrantor relating to warranties issued by the warrantor in this state. The financial information provided to the commissioner under this clause is trade secret information for purposes of section 13.37. History:   2007 c 57 art 3 s 25
MN Stat § 59C.06 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 59C — Vehicle Protection Products|Section 59C.06 — Warranty Reimbursement Policy Requirements.

59C.06 WARRANTY REIMBURSEMENT POLICY REQUIREMENTS. No warranty reimbursement insurance policy may be issued, sold, or offered for sale in this state unless the policy meets the following conditions: (1) the policy states that the issuer of the policy will reimburse, or pay on behalf of the vehicle protection product warrantor, all covered sums that the warrantor is legally obligated to pay, or will provide all service that the warrantor is legally obligated to perform according to the warrantor's contractual obligations under the provisions of the insured warranties sold by the warrantor; (2) the policy states that in the event payment due under the terms of the warranty is not provided by the warrantor within 60 days after proof of loss has been filed according to the terms of the warranty by the warranty holder, the warranty holder may file directly with the warranty reimbursement insurance company for reimbursement; (3) the policy provides that a warranty reimbursement insurance company that insures a warranty is deemed to have received payment of the premium if the warranty holder paid for the vehicle protection product and the insurer's liability under the policy shall not be reduced or relieved by a failure of the warrantor, for any reason, to report the issuance of a warranty to the insurer; and (4) the policy has the following provisions regarding cancellation of the policy: (i) the issuer of a reimbursement insurance policy shall not cancel the policy until a notice of cancellation in writing has been mailed or delivered to the commissioner and each insured warrantor; (ii) the cancellation of a reimbursement insurance policy shall not reduce the issuer's responsibility for vehicle protection products sold prior to the date of cancellation; and (iii) in the event an insurer cancels a policy that a warrantor has filed with the commissioner, the warrantor shall do either of the following: (A) file a copy of a new policy with the commissioner, before the termination of the prior policy, providing no lapse in coverage following the termination of the prior policy; or (B) discontinue offering warranties as of the termination date of the policy until a new policy becomes effective and is accepted by the commissioner. History:   2007 c 57 art 3 s 26