Minnesota Administrative Rules

2770.6400 APPLICATION PROCEDURES.

Subpart 1.

Application forms.

An application for self-insurance authority must be made on forms prescribed and made available by the commissioner.

Subp. 2.

Financial statements.

Certified financial statements for an applicant's most recently ended fiscal year and for each of the three prior years must be included with an application. If an applicant is a subsidiary, then an application must also include certified financial statements for the parent company's most recently ended fiscal year and for each of the prior three years.

Subp. 3.

Application fee.

A $500 application fee must be included with each application.

Subp. 4.

Assumption of liability agreement.

The parent company of an applicant must agree to assume the applicant's liabilities under the no-fault act if the applicant alone fails to satisfy part 2770.6500, subpart 2, item B, subitems (1) to (5). This agreement must be in a form prescribed by the commissioner. If required, a completed assumption of liability agreement form must be provided before an application can be considered complete.

Subp. 5.

Resolution of governing body.

If an applicant is a political subdivision, then a certified copy of a resolution from its governing body authorizing the political subdivision to seek self-insurance authority must be included with an application.

Subp. 6.

Commissioner's action.

The commissioner shall grant or deny authorization to self-insure within 60 days of receiving all application materials.

Statutory Authority:

MS s 65B.48

History:

9 SR 734; 9 SR 764

Published Electronically:

September 14, 2007