HF 746

as introduced - 79th Legislature (1995 - 1996) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to insurance; property and casualty; 
  1.3             regulating peace officer state aid; requiring domestic 
  1.4             mutuals to file a certain premium report; amending 
  1.5             Minnesota Statutes 1994, section 69.021, subdivision 2.
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  Minnesota Statutes 1994, section 69.021, 
  1.8   subdivision 2, is amended to read: 
  1.9      Subd. 2.  [REPORT OF PREMIUMS.] Each insurer, including 
  1.10  township and farmers mutual insurers where applicable, shall 
  1.11  return to the commissioner with its annual financial statement 
  1.12  the reports described in subdivision 1 certified by its 
  1.13  secretary and president or chief financial officer.  The 
  1.14  Minnesota Firetown Premium Report shall contain a true and 
  1.15  accurate statement of the total premium for all gross direct 
  1.16  fire, lightning, sprinkler leakage, and extended coverage 
  1.17  insurance of all domestic mutual insurers and the total premiums 
  1.18  for all gross direct fire, lightning, sprinkler leakage and 
  1.19  extended coverage insurance of all other insurers, less return 
  1.20  premiums and dividends received by them on that business written 
  1.21  or done during the preceding calendar year upon property located 
  1.22  within the state or brought into the state for temporary use.  
  1.23  The fire and extended coverage portion of multiperil and 
  1.24  multiple peril package premiums and all other combination 
  1.25  premiums shall be determined by applying percentages determined 
  2.1   by the commissioner or by rating bureaus recognized by the 
  2.2   commissioner.  The Minnesota Aid to Police Premium Report shall 
  2.3   contain a true and accurate statement of the total premiums, 
  2.4   less return premiums and dividends, on all direct business 
  2.5   received by such insurer in this state, or by its agents for it, 
  2.6   in cash or otherwise, during the preceding calendar year, with 
  2.7   reference to insurance written for perils described in section 
  2.8   69.011, subdivision 1, clause (f), except that domestic mutual 
  2.9   insurance companies must not file a report. 
  2.10     Sec. 2.  [EFFECTIVE DATE.] 
  2.11     Section 1 is effective the day following final enactment 
  2.12  and applies to reports due in 1995 and subsequent years.