Title Minnesota Statutes, Minnesota Statutes

64B.30 DOMESTIC ASSOCIATIONS; EXAMINATION; REHABILITATION; DISSOLUTION. § Subdivision 1.Visitation and examination. The commissioner, or any person the commissioner may appoint, shall have the power of visitation and examination into the affairs of any domestic society. The commi…

64B.31 SUSPENSION, REVOCATION, OR REFUSAL OF LICENSE OF FOREIGN OR ALIEN SOCIETY. § Subdivision 1.Grounds for revocation. When the commissioner upon investigation finds that a foreign or alien society transacting or applying to transact business in this state: (1) has exceeded it…

64B.32 INJUNCTION. No application or petition for injunction against any domestic, foreign, or alien society, or lodge thereof, shall be recognized in any court of this state unless made by the attorney general upon request of the commissioner. History: 1985 c 49 s 32

64B.33 LICENSING OF AGENTS. Agents of societies shall be licensed in accordance with the provisions of chapters 60A and 60K regulating the licensing, revocation, suspension, or termination of license of resident and nonresident agents, except as otherwise provided in section 60K.…

64B.34 UNFAIR METHODS OF COMPETITION AND UNFAIR AND DECEPTIVE ACTS AND PRACTICES. Every society authorized to do business in this state shall be subject to the provisions of chapter 72A relating to prohibitions and penalties in general and the regulation of trade practices; provi…

64B.35 SERVICE OF PROCESS. § Subdivision 1.Appointment of commissioner as attorney. Every society authorized to do business in this state shall appoint in writing the commissioner and each successor in office to be its true and lawful attorney upon whom all lawful process in any …

64B.36 REVIEW. All decisions and findings of the commissioner made under the provisions of this chapter shall be subject to review by proper proceedings in any court of competent jurisdiction in this state. History: 1985 c 49 s 36

64B.37 PENALTIES. § Subdivision 1.Violations generally. Any person violating the provisions of section 64B.14, subdivisions 2 and 3, shall be guilty of a felony; and, upon conviction, liable to a fine of not more than $10,000, or to imprisonment for not more than five years, or t…

64B.38 CERTAIN ORGANIZATIONS EXEMPT. § Subdivision 1.Application of chapter. Nothing contained in this chapter shall be construed to affect or apply to: (1) grand or subordinate lodges of Masons, Odd Fellows, Elks, or Knights of Pythias, exclusive of the insurance branch of the s…

64B.39 BENEFICIARY ASSOCIATIONS. § Subdivision 1.Definitions. "Beneficiary association" means a corporation, society, or voluntary association heretofore organized and now existing and carried on for the sole benefit of its members and their families, relatives, or dependents, bu…

64B.40 DEFINITIONS. § Subdivision 1.Scope. For the purposes of sections 64B.40 to 64B.48, the terms defined in this section have the meanings given them. § Subd. 2.Adjusted risk-based capital report. "Adjusted risk-based capital report" means a risk-based capital report that has …

64B.41 RISK-BASED CAPITAL REPORTS. § Subdivision 1.General requirements. Every society shall, on or before each March 1, prepare and submit to the commissioner a report of its risk-based capital levels as of the end of the calendar year just ended, in a form and containing the in…

64B.42 FRATERNAL ACTION LEVEL EVENT. § Subdivision 1.Definition. "Fraternal action level event" means, with respect to a society, any of the following events: (1) the filing of a risk-based capital report by the society that indicates that: (i) the society's total adjusted capita…

64B.43 FRATERNAL AUTHORIZED CONTROL LEVEL EVENT; DOMESTIC SOCIETIES. § Subdivision 1.Definitions. (a) For purposes of this section, the terms in this subdivision have the meanings given. (b) "Fraternal authorized control level event" means any of the following events: (1) the fil…

64B.44 HEARINGS. Upon notification to a society by the commissioner: (1) that the risk-based capital report is being adjusted by the commissioner; (2) that the society's risk-based capital plan or revised risk-based capital plan is unsatisfactory, and that the notification consti…

64B.45 PROHIBITION ON ANNOUNCEMENTS. Except as otherwise required under sections 64B.40 to 64B.48, the making, publishing, dissemination, circulating, or placing before the public, or causing, directly or indirectly to be made, published, disseminated, circulated, or placed befor…

64B.46 SUPPLEMENTAL PROVISIONS. Sections 64B.40 to 64B.48 are supplemental to other laws of this state and do not preclude or limit other powers or duties of the commissioner under those laws, including, but not limited to, chapters 60B and 60G. History: 2010 c 275 art 2 s 8

64B.47 IMMUNITY. There is no liability on the part of, and no cause of action arises against, the commissioner or the Department of Commerce or its employees or agents for an action taken by them in the performance of their powers and duties under sections 64B.40 to 64B.48. Histo…

64B.48 NOTICES. All notices by the commissioner to a society that may result in regulatory action under sections 64B.40 to 64B.48 are effective upon dispatch if transmitted by registered or certified mail, or, in the case of other transmission, are effective upon the society's re…

604.16 LIABILITY FOR LOSS SUFFERED AS A RESULT OF PEACE OFFICER PURSUIT; PENALTIES. § Subdivision 1.Flee; definition. For purposes of this section, the term "flee" means to increase speed, extinguish motor vehicle headlights or taillights, or to use other means with intent to att…

65A.01 MINNESOTA STANDARD FIRE INSURANCE POLICY. § Subdivision 1.Designation and scope. The printed form of a policy of fire insurance, as set forth in subdivisions 3 and 3a, shall be known and designated as the "Minnesota standard fire insurance policy" to be used in the state o…

65A.02 JOINT POLICY. When two or more authorized companies unite in the issue of a joint policy, the heading thereof may show the severalty of the contract, and the policy shall show the proportion of premiums to be paid to each, and the proportion of liability which each assumes…

65A.03 BINDERS, TEMPORARY INSURANCE. § Subdivision 1.Generally. Binders or other contracts for temporary insurance may be made orally or in writing, and shall be deemed to include all the terms of such standard fire insurance policy and all such applicable endorsements as may be …

65A.04 EFFECT ON SECTION 65A.08. Nothing in the preceding sections of this chapter shall be construed to limit the effect of or in any way modify or repeal section 65A.08. History: 1967 c 395 art 6 s 4

65A.05 NUCLEAR REACTION, RADIATION OR RADIOACTIVE CONTAMINATION; ENDORSEMENT. Loss or damage caused by nuclear reaction, nuclear radiation or radioactive contamination, all whether directly or indirectly resulting from an insured peril under the standard policy issued pursuant to…

65A.06 MOTOR VEHICLE, OCEAN AND INLAND MARINE POLICIES. Insurance on automobiles, motorcycles, other motor vehicles, or on property insured by ocean marine, and inland marine policies as defined by section 70A.03, clause (3), against loss or damage by fire, when combined in one p…

65A.061 CREDITORS LIMITED TO EXISTING INSURANCE. When a creditor requires a debtor to provide insurance on real or personal property security against reasonable risks of loss, damage, or destruction, no insurance shall be sold or placed by or through the creditor if the debtor pr…

65A.07 CANCELLATION OF FIRE POLICY. Any fire insurance company which has not collected the premium on its policy at the time of the delivery thereof may print or endorse, or attach by rider, on its policy the following clause: "If the insured hereunder shall not have actually pai…

65A.08 SPECIAL PROVISIONS. § Subdivision 1. [Repealed, 1979 c 175 s 1] § Subd. 2.Amount collectible. (a) In the absence of any change increasing the risk, without the consent of the insurer, of which the burden of proof shall be upon it, and in the absence of intentional fraud on…

65A.09 INSURANCE IN EXCESS OF REPLACEMENT COST. § Subdivision 1.Insurance limited. No company shall knowingly issue any policy upon property in this state for an amount which, together with any existing insurance thereon, exceeds the replacement cost of the buildings and any othe…

65A.10 LIMITATION. § Subdivision 1.Buildings. Nothing contained in sections 65A.08 and 65A.09 shall be construed to preclude insurance against the cost, in excess of actual cash value at the time any loss or damage occurs, of actually repairing, rebuilding or replacing the insure…

65A.11 PAYMENT TO MORTGAGEE. When the whole, or any part, of the loss is payable, in terms or otherwise, to or for one or more mortgagees, upon proof before payment of the rights of the parties, the company shall pay the same in the order of priority to the extent of its liabilit…

65A.12 WAIVER OF RIGHT TO APPRAISAL. § Subdivision 1.Right to appraisal. Any person who shall not, within 20 days after written request, appoint a qualified appraiser, as provided in the policy, shall at the election of the other party be deemed to have waived the right to apprai…

65A.13 LIABILITY OF COMPANY. Notwithstanding any penalty prescribed for the making, issuing, or delivery of any policy in violation of any provision of law, every such policy shall be binding upon the company issuing the same. History: 1967 c 395 art 6 s 13

65A.14 PERSON WHO PROCURES AN APPLICATION AGENT OF ISSUING COMPANY. Every person who solicits insurance and procures an application therefor shall be held to be the agent of the party afterward issuing insurance thereon or a renewal thereof. History: 1967 c 395 art 6 s 14

65A.15 VIOLATION. Every company and every agent who shall willfully make, issue, or deliver a policy in violation of sections 65A.01, 65A.02, and 65A.03 shall be guilty of a gross misdemeanor; but every stipulation of the policy in favor of the insured shall, nevertheless, be bin…

65A.16 GUARANTY SURPLUS AND SPECIAL RESERVE FUND. Any insurance company organized under the laws of this state authorized to transact a fire insurance business may create the funds herein provided for, to be known and designated as the guaranty surplus fund and the special reserv…

65A.17 ACTION OF STOCKHOLDERS FILED WITH COMMISSIONER. Any such insurance company, desiring to create such funds, may do so if such action is authorized by its stockholders, upon the adoption of a resolution to that effect by its board of directors at a regular meeting of the boa…

65A.18 DIVIDENDS DECLARED OUT OF SURPLUS PROFITS. After the date of filing any such resolution with the commissioner, the company shall not make or declare or pay in any form any dividend upon its capital stock, exceeding eight percent per annum thereupon and six percent per annu…

65A.19 EXAMINATION. When the company shall notify the commissioner that it has fulfilled the requirements already expressed in sections 65A.16 to 65A.24, and that its guaranty surplus fund and its special reserve fund, taken together, equal its capital stock or amount to the sum …

65A.20 ITEMS CONSIDERED IN ESTIMATING PROFIT. In estimating the profit of any such company for the purpose of making a division thereof between the guaranty surplus fund and the special reserve fund, until these funds shall together amount to a sum equal to the capital stock of t…

65A.21 INVESTMENT OF GUARANTY SURPLUS. The guaranty surplus shall be held and be invested by the company in the same manner as its capital stock and surplus accumulation may be held and be invested, and shall be liable and applicable in the same manner as the capital stock to the…

65A.22 INVESTMENT OF SPECIAL RESERVE FUND. The special reserve fund shall be invested according to existing laws relating to investments of capital by fire insurance companies and shall be deposited, from time to time, as the same shall accumulate and be invested, with the commis…

65A.23 WHEN CLAIMS EXCEED GUARANTY SURPLUS AND CAPITAL STOCK. (1) When the claims upon the company shall exceed the amount of its capital stock and of guaranty surplus fund, provided for by sections 65A.16 to 65A.24, and of its surplus funds, other than the special reserve fund, …

65A.24 STOCKHOLDERS TO MAKE UP IMPAIRMENT. If, at any time after the special reserve fund shall have been accumulated by any company, the directors of the company shall present evidence satisfactory to the commissioner that the capital of the company has become impaired, the comm…

65A.26 HAIL INSURANCE, POLICIES, LOSS ADJUSTMENT. Every policy of insurance against damage by hail issued by any company, however organized, must provide as follows: "In case of loss under this policy, and failure of the parties to agree as to the amount of the loss, it is mutual…