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HF 2764

as introduced - 88th Legislature (2013 - 2014) Posted on 03/06/2014 01:11pm

KEY: stricken = removed, old language.
underscored = added, new language.
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Engrossments
Introduction Posted on 03/06/2014

Current Version - as introduced

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A bill for an act
 relating to insurance; public insurance adjusters; eliminating obsolete references;
amending Minnesota Statutes 2012, section 72B.135, subdivision 2.

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

Section 1.

Minnesota Statutes 2012, section 72B.135, subdivision 2, is amended to read:


Subd. 2.

Writing required; notice of right to cancel; notice of cancellation.

(a)
Before entering a contract referred to in subdivision 1, the public adjuster must:

(1) furnish the insured with a statement in boldface type of a minimum size of ten
points, in substantially the following form:

"You, the insured, may cancel this contract at any time within 72 hours after the
contract has been signed between the insured and the public adjuster. See attached notice
of cancellation form for an explanation of this right."; and

(2) furnish each insured, a fully completed form in duplicate, captioned, "NOTICE
OF CANCELLATION," which shall be attached to the contract and easily detachable,
and which shall contain in boldface type of a minimum size of ten points the following
information and statements:

"NOTICE OF CANCELLATION

.
(enter date of contract)

If you do not want to go forward with the contract with the public adjuster, you may
cancel the contract by mailing or delivering a signed and dated copy of this cancellation
notice or any other written noticedeleted text begin , or send a telegramdeleted text end to (Name of Public Adjuster), at
(Address of Public Adjuster's Place of Business) not later than midnight of (Date). If you
cancel, any payments made by you under the contract will be returned within ten business
days following receipt by the public adjuster of your cancellation notice.

I HEREBY CANCEL THIS TRANSACTION.
.
(date)
.
(Insured's signature)"

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment
and applies to contracts entered into on or after that date.
 new text end