SF 1089

1st Engrossment - 93rd Legislature (2023 - 2024) Posted on 07/06/2023 09:36am

A bill for an act
relating to insurance; modifying time limitations requirements for motor vehicle
insurance policies; amending Minnesota Statutes 2022, section 65B.49, by adding
a subdivision.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Minnesota Statutes 2022, section 65B.49, is amended by adding a subdivision
to read:

new text begin Subd. 10. new text end

new text begin Time limitations. new text end

new text begin (a) Unless expressly provided for in this chapter, a plan of
reparation security must conform to the six-year time limitation provided under section
541.05, subdivision 1, clause (1).
new text end

new text begin (b) The time limitation for commencing a cause of action relating to underinsured motorist
coverage under section 65B.49, subdivision 3a, is four years from the date of accrual.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective on August 1, 2023, and applies to contracts
issued or renewed on or after that date.
new text end