2nd Engrossment - 79th Legislature (1995 - 1996) Posted on 12/15/2009 12:00am
|2nd Engrossment||Posted on 08/14/1998|
1.1 A bill for an act 1.2 relating to insurance; regulating trade practices; 1.3 prohibiting certain insurance agent quotas; proposing 1.4 coding for new law in Minnesota Statutes, chapter 60A. 1.5 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 1.6 Section 1. [60A.178] [LIFE OR HEALTH INSURANCE POLICY 1.7 QUOTAS.] 1.8 No insurer, its officers, or managers shall require 1.9 licensed property and casualty agents to sell a specified number 1.10 of life or health insurance policies or a specified dollar 1.11 amount of life and health insurance as a condition of selling 1.12 property-casualty insurance. No insurer, its officers, or 1.13 managers may reduce or restrict an agent's underwriting 1.14 authority on property-casualty insurance policies based upon the 1.15 sale of life or health insurance. The provisions of this 1.16 section do not apply to agents who are directly employed by the 1.17 insurer or who write 80 percent or more of their gross annual 1.18 insurance business for one company or any or all of its 1.19 subsidiaries.