1st Engrossment - 82nd Legislature (2001 - 2002) Posted on 12/15/2009 12:00am
1.1 A bill for an act 1.2 relating to insurance; authorizing licensed 1.3 property-casualty insurance agents to assist in the 1.4 procurement of surplus lines insurance without a 1.5 surplus lines insurance license; amending Minnesota 1.6 Statutes 2000, section 60A.198, subdivision 1. 1.7 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 1.8 Section 1. Minnesota Statutes 2000, section 60A.198, 1.9 subdivision 1, is amended to read: 1.10 Subdivision 1. [LICENSE REQUIRED.] A person, as defined in 1.11 section 60A.02, subdivision 7, shall not act in any other manner 1.12 as an agent or broker in the transaction of surplus lines 1.13 insurance unless licensed under sections 60A.195 to 60A.209. A 1.14 surplus lines license is not required for a licensed resident 1.15 agent who assists in the procurement of surplus lines insurance 1.16 with a surplus lines licensee pursuant to sections 60A.195 to 1.17 60A.209. 1.18 Sec. 2. [EFFECTIVE DATE.] 1.19 Section 1 is effective the day following final enactment.