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Minnesota Statutes, Title Minnesota Statutes

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Minnesota/Statutes

← All Minnesota coverage

Title Minnesota Statutes, Minnesota Statutes

1,133 chapters · 28,438 sections in this title.

All chapters in Title Minnesota Statutes28,438 Ch 336, Chapter 336. UNIFORM COMMERCIAL CODE641 Ch 524, Chapter 524. UNIFORM PROBATE CODE394 Ch 609, Chapter 609. CRIMINAL CODE377 Ch 144, Chapter 144. DEPARTMENT OF HEALTH361 Ch 469, Chapter 469. ECONOMIC DEVELOPMENT256 Ch 473, Chapter 473. METROPOLITAN GOVERNMENT250 Ch 148, Chapter 148. PUBLIC HEALTH OCCUPATIONS206 Ch 169, Chapter 169. TRAFFIC REGULATIONS200 Ch 256B, Chapter 256B. MEDICAL ASSISTANCE FOR…196 Ch 60A, Chapter 60A. GENERAL INSURANCE POWERS194 Ch 115A, Chapter 115A. WASTE MANAGEMENT171 Ch 325, Chapter 325. MANUFACTURES AND SALES170 Ch 383B, Chapter 383B. HENNEPIN COUNTY168 Ch 216B, Chapter 216B. PUBLIC UTILITIES163

29 sections·Filtered byTitle Minnesota Statutes✕Ch 60D✕

Minn. Stat. § 60D.09 PENALTIES.
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60D.09 PENALTIES. § Subdivision 1.Failure to file registration statement; civil penalty. An insurer failing, without just cause, to file a registration statement as required in section 60D.19 shall pay a penalty of $1,000 for each day's delay, to be recovered by the commissioner …
Minn. Stat. § 60D.15 DEFINITIONS.
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60D.15 DEFINITIONS. § Subdivision 1.Terms. For purposes of this chapter, the terms in subdivisions 2 to 10 have the meanings given them, unless the context otherwise requires. § Subd. 2.Affiliate. An "affiliate" of, or person "affiliated" with, a specific person, is a person that…
Minn. Stat. § 60D.16 SUBSIDIARIES OF INSURERS.
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60D.16 SUBSIDIARIES OF INSURERS. § Subdivision 1.Authorization. A domestic insurer, either by itself or in cooperation with one or more persons, may organize or acquire one or more subsidiaries engaged in the following kinds of business: (1) any kind of insurance business authori…
Minn. Stat. § 60D.17 ACQUISITION OF CONTROL OF OR MERGER WITH DOMESTIC INSURER.
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60D.17 ACQUISITION OF CONTROL OF OR MERGER WITH DOMESTIC INSURER. § Subdivision 1.Filing requirements. (a) No person other than the issuer shall: (1) make a tender offer for or a request or invitation for tenders of, or enter into any agreement to exchange securities for, seek to…

Minn. Stat. § 60D.18 ACQUISITIONS INVOLVING INSURERS NOT OTHERWISE COVERED.

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60D.18 ACQUISITIONS INVOLVING INSURERS NOT OTHERWISE COVERED. § Subdivision 1.Definitions. The following definitions apply for the purposes of this section only: (a) "Acquisition" means an agreement, arrangement, or activity the consummation of which results in a person acquiring…

Minn. Stat. § 60D.19 REGISTRATION OF INSURERS.

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60D.19 REGISTRATION OF INSURERS. § Subdivision 1.Registration. Every domestic insurer that is a member of an insurance holding company system shall register with the commissioner. Any insurer that is subject to registration under this section shall register within 15 days after i…

Minn. Stat. § 60D.195 GROUP CAPITAL CALCULATION.

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60D.195 GROUP CAPITAL CALCULATION. § Subdivision 1.Annual group capital calculation; exemption permitted. The commissioner may exempt the ultimate controlling person from filing the annual group capital calculation if the commissioner makes a determination that the insurance hold…

Minn. Stat. § 60D.20 STANDARDS AND MANAGEMENT OF AN INSURER WITHIN A HOLDING COMPANY SYSTEM.

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60D.20 STANDARDS AND MANAGEMENT OF AN INSURER WITHIN A HOLDING COMPANY SYSTEM. § Subdivision 1.Transactions within an insurance holding company system. (a) Transactions within an insurance holding company system to which an insurer subject to registration is a party are subject t…

Minn. Stat. § 60D.21 EXAMINATION.

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60D.21 EXAMINATION. § Subdivision 1.Power of commissioner. Subject to the limitation contained in this section and in addition to the powers that the commissioner has under chapter 60A relating to the examination of insurers, the commissioner shall also have the power to examine …

Minn. Stat. § 60D.215 SUPERVISORY COLLEGES.

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60D.215 SUPERVISORY COLLEGES. § Subdivision 1.Power of commissioner. With respect to any insurer registered under section 60D.19, and in accordance with subdivision 3, the commissioner may also participate in a supervisory college for a domestic insurer that is part of an insuran…

Minn. Stat. § 60D.217 GROUPWIDE SUPERVISION OF INTERNATIONALLY ACTIVE INSURANCE GROUPS.

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60D.217 GROUPWIDE SUPERVISION OF INTERNATIONALLY ACTIVE INSURANCE GROUPS. (a) The commissioner is authorized to act as the groupwide supervisor for any internationally active insurance group in accordance with the provisions of this section. However, the commissioner may otherwis…

Minn. Stat. § 60D.22 CONFIDENTIALITY.

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60D.22 CONFIDENTIALITY. § Subdivision 1.Classification protection and use of information by commissioner. (a) Documents, materials, or other information in the possession or control of the department that are obtained by or disclosed to the commissioner or any other person in the…

Minn. Stat. § 60D.23 RULES.

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60D.23 RULES. The commissioner may adopt the rules and orders that are necessary to carry out the provisions of this chapter. History: 1991 c 325 art 14 s 10

Minn. Stat. § 60D.24 INJUNCTIONS, PROHIBITIONS AGAINST VOTING SECURITIES, SEQUESTRATION OF VOTING SECURITIES.

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60D.24 INJUNCTIONS, PROHIBITIONS AGAINST VOTING SECURITIES, SEQUESTRATION OF VOTING SECURITIES. § Subdivision 1.Injunctions. Whenever it appears to the commissioner that any insurer or any director, officer, employee, or agent of the insurer has committed or is about to commit a …

Minn. Stat. § 60D.25 RECEIVERSHIP.

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60D.25 RECEIVERSHIP. Whenever it appears to the commissioner that any person has committed a violation of this chapter that so impairs the financial condition of a domestic insurer as to threaten insolvency or make the further transaction of business by it hazardous to its policy…

Minn. Stat. § 60D.26 RECOVERY.

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60D.26 RECOVERY. (a) If an order for liquidation or rehabilitation of a domestic insurer has been entered, the receiver appointed under the order shall have a right to recover on behalf of the insurer, (1) from any parent corporation or holding company or person or affiliate who …

Minn. Stat. § 60D.27 REVOCATION, SUSPENSION, OR NONRENEWAL OF INSURER'S LICENSE.

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60D.27 REVOCATION, SUSPENSION, OR NONRENEWAL OF INSURER'S LICENSE. Whenever it appears to the commissioner that any person has committed a violation of this chapter that makes the continued operation of an insurer contrary to the interests of policyholders or the public, the comm…

Minn. Stat. § 60D.28 JUDICIAL REVIEW, MANDAMUS.

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60D.28 JUDICIAL REVIEW, MANDAMUS. (a) Any person aggrieved by any act, determination, rule or order, or any other action of the commissioner pursuant to this chapter may appeal therefrom to the District Court for Ramsey County. The court shall conduct its review without a jury an…

Minn. Stat. § 60D.29 CONFLICT WITH OTHER LAWS.

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60D.29 CONFLICT WITH OTHER LAWS. All laws and parts of laws of this state inconsistent with this chapter are superseded with respect to matters covered by this chapter. History: 1991 c 325 art 14 s 16

Minn. Stat. § 60D.30 ELIGIBILITY DETERMINATION.

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60D.30 ELIGIBILITY DETERMINATION. Section 302A.521, subdivision 3, applies to a corporation that is a member of an insurance holding company system, except if a determination for advancement is not made under section 302A.521, subdivision 6, clauses (1) to (4), the corporation th…

Minn. Stat. § 60D.50 PURPOSE AND SCOPE.

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60D.50 PURPOSE AND SCOPE. (a) The purpose of sections 60D.50 to 60D.58 is to provide the requirements for maintaining a risk management framework and completing an Own Risk and Solvency Assessment (ORSA) and provide guidance and instructions for filing an ORSA Summary Report with…

Minn. Stat. § 60D.51 DEFINITIONS.

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60D.51 DEFINITIONS. § Subdivision 1.Scope. For purposes of sections 60D.50 to 60D.58, the terms in this section have the meanings given them. § Subd. 2.Insurance group. For the purpose of conducting an ORSA, "insurance group" means those insurers and affiliates included within an…

Minn. Stat. § 60D.52 RISK MANAGEMENT FRAMEWORK.

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60D.52 RISK MANAGEMENT FRAMEWORK. An insurer shall maintain a risk management framework to assist the insurer with identifying, assessing, monitoring, managing, and reporting on its material and relevant risks. This requirement may be satisfied if the insurance group of which the…

Minn. Stat. § 60D.53 ORSA REQUIREMENT.

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60D.53 ORSA REQUIREMENT. Subject to section 60D.55, an insurer, or the insurance group of which the insurer is a member, shall regularly conduct an ORSA consistent with a process comparable to the ORSA Guidance Manual. The ORSA must be conducted no less than annually but also at …

Minn. Stat. § 60D.54 ORSA SUMMARY REPORT.

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60D.54 ORSA SUMMARY REPORT. § Subdivision 1.Required submission. Upon the commissioner's request and no more than once per year, an insurer shall submit to the commissioner an ORSA Summary Report or any combination of reports that together contain the information described in the…

Minn. Stat. § 60D.55 EXEMPTION.

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60D.55 EXEMPTION. § Subdivision 1.Annual premium levels. An insurer is exempt from the requirements of sections 60D.50 to 60D.58 if: (1) the insurer has annual direct written and unaffiliated assumed premium, including international direct and assumed premium but excluding premiu…

Minn. Stat. § 60D.56 CONTENTS OF ORSA SUMMARY REPORT.

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60D.56 CONTENTS OF ORSA SUMMARY REPORT. § Subdivision 1.Preparation and documentation. The ORSA Summary Report shall be prepared by the insurer consistent with the ORSA Guidance Manual, subject to the requirements of subdivision 2. Documentation and supporting information shall b…

Minn. Stat. § 60D.57 CONFIDENTIALITY.

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60D.57 CONFIDENTIALITY. § Subdivision 1.Classification protection and use of information by commissioner. Documents, materials, or other information, including the ORSA Summary Report, in the possession of or control of the department that are obtained by, created by, or disclose…

Minn. Stat. § 60D.58 SANCTIONS.

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60D.58 SANCTIONS. An insurer failing, without just cause, to timely file the ORSA Summary Report as required in sections 60D.50 to 60D.58 shall pay a penalty of $1,000 for each day's delay to be recovered by the commissioner and to be paid into the general fund. The commissioner …