reglab/housing_qa huggingface dataset:
MN Stat § 60A.1755 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60A — General Insurance Powers|Section 60A.1755 — Agent Errors And Omissions Insurance; Choice Of Source.

60A.1755 AGENT ERRORS AND OMISSIONS INSURANCE; CHOICE OF SOURCE. An insurance company shall not require an insurance agent to maintain insurance coverage for the agent's errors and omissions from a specific insurance company. This section does not apply if the insurance producer is a captive producer or employee of the insurance company imposing the requirement, or if that insurance company or affiliated broker-dealer pays for or contributes to the premiums for the errors and omissions coverage. For purposes of this section, "captive producer" means a producer that writes 80 percent or more of the producer's gross annual insurance business for that insurance company or any or all of its subsidiaries. Nothing in this section shall prohibit an insurance company from requiring an insurance producer to maintain errors and omissions coverage or requiring that errors and omissions coverage meet certain criteria. History:   2009 c 178 art 1 s 6
MN Stat § 60A.176 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60A — General Insurance Powers|Section 60A.176 — Definitions.

60A.176 DEFINITIONS. Subdivision 1. Application. The definitions in this section apply to this section and section 60A.177. Subd. 2.  [Repealed, 1991 c 207 s 8] Subd. 3. Agent. "Agent" means an agent who is not an employee of the insurer, who has an agency contractual relationship that has been in effect for five or more years, and who writes 80 percent or more of the agent's business through one insurer or its subsidiaries. Subd. 4. Insurer. "Insurer" means an insurance company writing property or casualty loss insurance in this state through agents. History:  1990 c 457 s 1; 1991 c 207 s 1
MN Stat § 60A.178 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60A — General Insurance Powers|Section 60A.178 — Life Or Health Insurance Sales Quotas.

60A.178 LIFE OR HEALTH INSURANCE SALES QUOTAS. No insurer, its officers, or managers shall require licensed property and casualty agents to sell a specified number of life or health insurance policies or a specified dollar amount of life and health insurance as a condition of selling property-casualty insurance. No insurer, its officers, or managers may reduce or restrict an agent's underwriting authority on property-casualty insurance policies based upon the sale of life or health insurance. The provisions of this section do not apply to agents who are directly employed by the insurer or who write 80 percent or more of their gross annual insurance business for one company or any or all of its subsidiaries. History:   1995 c 152 s 1
MN Stat § 60A.179 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60A — General Insurance Powers|Section 60A.179 — Life Or Health Insurance Sales Quotas For Exclusive Agents.

60A.179 LIFE OR HEALTH INSURANCE SALES QUOTAS FOR EXCLUSIVE AGENTS. Subdivision 1. Application. This section applies to licensed insurance agents as defined by section 60A.176. Subd. 2. Prohibited practice. No insurer shall require an agent who has been licensed as an agent three years or more to sell a specified number of life or health insurance policies or a specified dollar amount of life and health insurance in relation to the sale of other insurance products. No insurer may terminate an agent's contract or reduce or restrict an agent's underwriting authority on property and casualty insurance policies based upon the sale of life or health insurance. History:   1996 c 446 art 1 s 6
MN Stat § 60A.195 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60A — General Insurance Powers|Section 60A.195 — Citation.

60A.195 CITATION. Sections 60A.195 to 60A.209 shall be known and may be cited as the "Minnesota Surplus Lines Insurance Act." History:   1981 c 221 s 1
MN Stat § 60A.197 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60A — General Insurance Powers|Section 60A.197 — Rates And Forms.

60A.197 RATES AND FORMS. (a) Rates used by eligible and ineligible surplus lines insurers shall not be subject to the insurance laws except that a rate shall not be unfairly discriminatory. (b) Forms used by eligible and ineligible surplus lines insurers pursuant to sections 60A.195 to 60A.209 shall not be subject to the insurance laws, except that a policy shall not contain language which misrepresents the true nature of the policy or class of policies. History:   1981 c 221 s 3
MN Stat § 60A.199 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60A — General Insurance Powers|Section 60A.199 — Examinations.

60A.199 EXAMINATIONS. Subdivision 1. Examination of books and records. If the commissioner considers it necessary, the commissioner may examine the books and records of a surplus lines broker to determine whether the broker is conducting business in accordance with sections 60A.195 to 60A.209. For the purposes of facilitating examinations, the broker shall allow the commissioner free access at reasonable times to all of the broker's books and records relating to the transactions to which sections 60A.195 to 60A.209 apply. If an examination is conducted, the cost of the examination shall be paid by the surplus line agent or agency. Subd. 2.  [Repealed, 2000 c 394 art 2 s 28] Subd. 3.  [Repealed, 2000 c 394 art 2 s 28] Subd. 4.  [Repealed, 2000 c 394 art 2 s 28] Subd. 5.  [Repealed, 2000 c 394 art 2 s 28] Subd. 6.  [Repealed, 2000 c 394 art 2 s 28] Subd. 6a.  [Repealed, 2000 c 394 art 2 s 28] Subd. 7.  [Repealed, 2000 c 394 art 2 s 28] Subd. 8.  [Repealed, 2000 c 394 art 2 s 28] Subd. 9.  [Repealed, 2000 c 394 art 2 s 28] Subd. 10.  [Repealed, 2000 c 394 art 2 s 28] Subd. 11.  [Repealed, 2000 c 394 art 2 s 28] History:  1981 c 221 s 5; 1984 c 592 s 41; 1Sp1985 c 14 art 15 s 2; 1986 c 444; 1Sp1986 c 3 art 1 s 82; 1987 c 268 art 2 s 2-10; art 17 s 41; 1990 c 480 art 1 s 46; 1993 c 375 art 10 s 5,6; 1995 c 264 art 13 s 2,3; 2011 c 108 s 13
MN Stat § 60A.201 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60A — General Insurance Powers|Section 60A.201 — Placement Of Insurance By Broker.

60A.201 PLACEMENT OF INSURANCE BY BROKER. Subdivision 1. Restrictions. Insurance shall not be placed by the surplus lines broker with a nonadmitted insurer when coverage is available from a licensed insurer. Subd. 2. Availability of other coverage; presumption. There shall be a rebuttable presumption that the following coverages are available from a licensed insurer: (a) all mandatory automobile insurance coverages required by chapter 65B; (b) private passenger automobile physical damage coverage; (c) homeowners and property insurance on owner-occupied dwellings whose value is less than $500,000. This figure shall be changed annually by the commissioner by the same percentage as the Consumer Price Index for the Minneapolis-St. Paul Metropolitan Area is changed; (d) any coverage readily available from three or more licensed insurers unless the licensed insurers quote a premium and terms not competitive with a premium and terms quoted by an eligible surplus lines insurer; and (e) workers' compensation insurance, except excess workers' compensation insurance which is not available from the Workers' Compensation Reinsurance Association. Subd. 3. Unavailability of other coverage; presumption. There shall be a rebuttable presumption that the following coverages are unavailable from a licensed insurer: (a) coverages where one portion of the risk is acceptable to licensed insurers but another portion of the same risk is not acceptable. The entire coverage may be placed with eligible surplus lines insurers if it can be shown that the eligible surplus lines insurer will accept the entire coverage but not the rejected portion alone; and (b) any coverage that the broker is unable to procure after diligent search among licensed insurers. Subd. 4.  [Repealed, 2009 c 178 art 1 s 69] Subd. 5. Streamlined application for exempt commercial purchasers. A surplus lines broker is not required to make a diligent search to determine whether the full amount or type of insurance can be obtained from licensed insurers when the broker is seeking to procure or place nonadmitted insurance for an exempt commercial purchaser provided: (1) the broker procuring or placing the nonadmitted insurance has disclosed to the exempt commercial purchaser that the insurance may or may not be available from a licensed insurer that may provide greater protection with more regulatory oversight; and (2) the exempt commercial purchaser has subsequently requested in writing for the broker to procure or place the insurance from a nonadmitted insurer. History:  1981 c 221 s 6; 1992 c 564 art 1 s 21; 2009 c 178 art 1 s 9; 2011 c 108 s 14
MN Stat § 60A.202 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60A — General Insurance Powers|Section 60A.202 — Evidence Of Placement Of Insurance By Broker.

60A.202 EVIDENCE OF PLACEMENT OF INSURANCE BY BROKER. Subdivision 1. Restriction. Only a surplus lines broker shall issue evidence of placement of insurance with a nonadmitted insurer. Subd. 2. Written communication of coverage to be delivered. A broker shall, within seven working days after the date on which the risk was bound or the insured or applicant was advised that coverage has been or will be obtained, deliver to the insured or the insured's representative a policy, a written binder, a certificate or other written evidence of insurance placed with a nonadmitted insurer. Subd. 3. Contents of written communication. The written communication showing that insurance has been obtained shall identify all known nonadmitted insurers directly assuming any risk of loss. If there is more than one nonadmitted insurer, any document issued or certified by the broker pursuant to subdivision 2 shall specify, to the extent known by the broker, whether the obligation is joint or several, and if the obligation is several, the proportion of the obligation assumed by each insurer. History:  1981 c 221 s 7; 2011 c 108 s 15
MN Stat § 60A.203 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60A — General Insurance Powers|Section 60A.203 — Retention Of Records.

60A.203 RETENTION OF RECORDS. Each surplus lines broker shall keep a separate account of each transaction entered into pursuant to sections 60A.195 to 60A.209. Evidence of these transactions shall be documented in the form and manner designated by the commissioner and retained by the broker for a minimum of five years. The forms must be readily available for review and audit by the commissioner. History:  1981 c 221 s 8; 1992 c 564 art 1 s 22; 2011 c 108 s 16
MN Stat § 60A.204 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60A — General Insurance Powers|Section 60A.204 — Fees And Commissions.

60A.204 FEES AND COMMISSIONS. Subdivision 1.  [Repealed by amendment, 2010 c 384 s 6] Subd. 2. Regulation of fees and commissions. A surplus lines broker may charge a fee and commission, in addition to the premium, that is not excessive or discriminatory. The broker shall maintain complete documentation of all fees and commissions charged. Subd. 3.  [Repealed by amendment, 2010 c 384 s 6] History:  1981 c 221 s 9; 2010 c 384 s 6; 2011 c 108 s 17
MN Stat § 60A.205 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60A — General Insurance Powers|Section 60A.205 — Compensation.

60A.205 COMPENSATION. Subdivision 1. Authorization. A surplus lines broker may be compensated by an eligible surplus lines insurer and the broker may compensate a licensed agent in this state for obtaining nonadmitted insurance business. A licensed agent authorized by the broker may collect a premium on behalf of the broker, and as between the insured and the broker, the broker shall be considered to have received the premium if the premium payment has been made to the agent. Subd. 2. Consequences of receipt. If an eligible surplus lines insurer has assumed a risk, and if the premium for that risk has been received by the broker who placed the insurance, then as between the insurer and the insured, the insurer shall be considered to have received the premium due to it for the coverage and shall be liable to the insured for any loss covered by the insurance and for the unearned premium upon cancellation of the insurance, regardless of whether the broker is indebted to the insurer. History:  1981 c 221 s 10; 2009 c 178 art 1 s 10; 2011 c 108 s 18,19
MN Stat § 60A.207 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60A — General Insurance Powers|Section 60A.207 — Policies To Include Notice.

60A.207 POLICIES TO INCLUDE NOTICE. Each policy, cover note, or instrument evidencing nonadmitted insurance from an eligible surplus lines insurer which is delivered to an insured or a representative of an insured shall have printed, typed, or stamped upon its face in not less than 10 point type, the following notice: "THIS INSURANCE IS ISSUED PURSUANT TO THE MINNESOTA SURPLUS LINES INSURANCE ACT. THE INSURER IS AN ELIGIBLE SURPLUS LINES INSURER BUT IS NOT OTHERWISE LICENSED BY THE STATE OF MINNESOTA. IN CASE OF INSOLVENCY, PAYMENT OF CLAIMS IS NOT GUARANTEED." This notice shall not be covered or concealed in any manner. History:  1981 c 221 s 12; 2006 c 204 s 5; 2011 c 108 s 22
MN Stat § 60A.2086 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60A — General Insurance Powers|Section 60A.2086 — Licensee's Duty To Submit Documents; Penalty.

60A.2086 LICENSEE'S DUTY TO SUBMIT DOCUMENTS; PENALTY. Subdivision 1. Submission of documents to Surplus Lines Association of Minnesota; certification. (a) A surplus lines broker shall submit every insurance policy or contract issued under the broker's license to the Surplus Lines Association of Minnesota for recording and stamping. The submission and stamping must be effected through electronic means. The submission must include: (1) the name of the insured; (2) a description and location of the insured property or risk; (3) the amount insured; (4) the gross premiums charged or returned; (5) the name of the nonadmitted insurer from whom coverage has been procured; (6) the kind or kinds of insurance procured; and (7) the amount of premium subject to tax. (b) The submission of insurance policies or contracts to the Surplus Lines Association of Minnesota constitutes a certification by the surplus lines broker, or by the insurance producer who presented the risk to the surplus lines broker for placement as a surplus lines risk, that the insurance policies or contracts were procured in accordance with sections 60A.195 to 60A.209. Subd. 2. Stamping requirement; penalty. (a) It shall be unlawful for an insurance agent, broker, or surplus lines broker to deliver in this state any nonadmitted insurance policy or contract unless the insurance document is stamped by the association. A surplus lines broker's failure to comply with the requirements of this subdivision shall not affect the validity of the coverage. (b) Any insurance agent or surplus lines broker who delivers in this state any insurance policy or contract that has not been stamped by the association shall be subject to a penalty payable to the commissioner as follows: (1) $50 for delivery of the first unstamped policy; (2) $250 for delivery of a second unstamped policy; and (3) $1,000 per policy for delivery of any additional unstamped policies. History:  2008 c 366 art 17 s 3; 2011 c 108 s 28,29
MN Stat § 60A.2095 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60A — General Insurance Powers|Section 60A.2095 — Construction.

60A.2095 CONSTRUCTION. Nothing in sections 60A.195 to 60A.209 shall be construed to permit the state to impose requirements beyond those granted by the Liability Risk Retention Act, Public Law 99-563. History:   1987 c 337 s 13
MN Stat § 60A.236 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60A — General Insurance Powers|Section 60A.236 — Stop Loss Regulation; Small Employer Coverage.

60A.236 STOP LOSS REGULATION; SMALL EMPLOYER COVERAGE. A contract providing stop loss coverage, issued or renewed to a small employer, as defined in section 62L.02, subdivision 26, or to a plan sponsored by a small employer, must include a claim settlement period no less favorable to the small employer or plan than the following: (1) claims incurred during the contract period; and (2) paid by the plan during the contract period or within three months after expiration of the contract period. History:  1995 c 258 s 7; 2017 c 2 art 2 s 3
MN Stat § 60A.24 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60A — General Insurance Powers|Section 60A.24 — Exemptions From Insurance Laws Of This State.

60A.24 EXEMPTIONS FROM INSURANCE LAWS OF THIS STATE. The following are exempt from all insurance laws of the state: All organizations listed in section 64B.38 of the laws relating to fraternal benefit societies. History:  1967 c 395 art 1 s 24; 1985 c 49 s 41; 1992 c 564 art 1 s 54
MN Stat § 60A.25 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60A — General Insurance Powers|Section 60A.25 — Insolvent Companies.

60A.25 INSOLVENT COMPANIES. Subdivision 1. Notification of policyholders. Whenever any foreign or domestic insurance company authorized to transact the business of insurance in Minnesota is adjudicated insolvent, or whenever its policies are declared null and void by court order, the commissioner of commerce shall ascertain the names and last known addresses of all Minnesota policyholders of said company, and shall notify all Minnesota policyholders within 30 days of such adjudication or court order. In the case of foreign insurers authorized to do business in this state, the commissioner of commerce may elect to notify all of the company's licensed agents in Minnesota with a directive that the agents notify all insureds of the company's insolvency or that its policies have been declared null and void. Subd. 2. Remittance of premiums. Every agency contract written by an insurance company writing property and casualty insurance in Minnesota shall contain or be construed to contain the following provision: "Notwithstanding any other provision of this contract, the obligation of the agent to remit written premiums to the company shall be changed upon the commencement of any administrative or legal proceeding by any state against the carrier regarding its financial condition. After the commencement of the proceedings, the obligation of the agent to remit premiums shall be confined to the premiums earned before the commencement of the proceedings. The agent shall not owe or remit to the company or to the liquidator or receiver any premiums that are unearned as of the date of the commencement of the delinquency proceedings, and any unearned premiums in the possession of the agent on the date shall be returned promptly by the agent to the insured or, with the approval of the insured, be used to purchase new coverage for the insured with a different insurer." History:  1967 c 368 s 1; 1971 c 527 s 1; 1983 c 289 s 114 subd 1; 1984 c 655 art 1 s 92; 1986 c 455 s 7
MN Stat § 60A.26 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60A — General Insurance Powers|Section 60A.26 — Suspension Of Insurers; Notifications And Reports.

60A.26 SUSPENSION OF INSURERS; NOTIFICATIONS AND REPORTS. Subdivision 1. Other states. The commissioner of commerce shall notify the insurance departments of all other states whenever, under any law then in effect, the commissioner suspends the right of a foreign or domestic insurer to transact business in this state. Subd. 2. NAIC. The commissioner of commerce shall report public regulatory actions, investigative information, and complaints to the appropriate reporting system or database of the National Association of Insurance Commissioners. History:  1967 c 369 s 1; 1983 c 289 s 114 subd 1; 1984 c 655 art 1 s 92; 1986 c 444; 1995 c 258 s 8
MN Stat § 60A.27 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60A — General Insurance Powers|Section 60A.27 — Discipline Of Insurer By Another State; Notice To Commissioner.

60A.27 DISCIPLINE OF INSURER BY ANOTHER STATE; NOTICE TO COMMISSIONER. Subdivision 1. Requirement. An insurance company licensed to transact business in this state is hereby required to notify the commissioner of commerce within ten business days of the happening of any one or more of the following: (1) the suspension or revocation of its right to transact business in another state; or (2) the receipt by the insurance company of an order to show why its license should not be suspended or revoked. Subd. 2. Penalty. Any insurance company which fails to notify the commissioner of commerce within the time period specified in subdivision 1 is subject to a penalty of not more than $500, or suspension, or both. History:  1967 c 448 s 1,2; 1983 c 289 s 114 subd 1; 1984 c 655 art 1 s 92; 1991 c 325 art 21 s 1; 2017 c 98 s 3
MN Stat § 60A.28 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 60A — General Insurance Powers|Section 60A.28 — Documents Filed With Commissioner, Verification.

60A.28 DOCUMENTS FILED WITH COMMISSIONER, VERIFICATION. The commissioner of commerce may require that any document required by law to be filed with the commissioner, be accompanied by a sworn verification of its contents by a responsible officer of the corporation filing it. The commissioner shall prescribe the form of the verification by rule. History:  1967 c 457 s 1; 1983 c 289 s 114 subd 1; 1984 c 655 art 1 s 92; 1986 c 444