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Office of the Revisor of Statutes

SF 1603

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

KEY: stricken = removed, old language.
underscored = added, new language.
Version List Authors and Status
Rtf

Current Version - as introduced

  1.1                          A bill for an act 
  1.2             relating to insurance; life or health; prohibiting 
  1.3             certain insurance agent quotas; proposing coding for 
  1.4             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 FOR EXCLUSIVE AGENTS.] 
  1.8      Subdivision 1.  [APPLICATION.] This section applies to 
  1.9   licensed insurance agents as defined by section 60A.176. 
  1.10     Subd. 2.  [PROHIBITED PRACTICE.] No insurer shall require 
  1.11  an agent to sell a specified number of life or health insurance 
  1.12  policies or a specified dollar amount of life and health 
  1.13  insurance in relation to the sale of other insurance products.  
  1.14  No insurer may terminate an agent's contract or reduce or 
  1.15  restrict an agent's underwriting authority on property and 
  1.16  casualty insurance policies based upon the sale of life or 
  1.17  health insurance.