SF 2087

as introduced - 85th Legislature (2007 - 2008) Posted on 12/15/2009 12:00am

A bill for an act
relating to insurance; protecting certain long-term care insurance policies
from extreme premium increases; amending Minnesota Statutes 2006, section
62S.265, subdivision 1.

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

Section 1.

Minnesota Statutes 2006, section 62S.265, subdivision 1, is amended to read:

Subdivision 1.

Applicability.

(a) Except as provided in paragraph (b), This section
applies to any long-term care policy or certificate issued in this state on or after January
1, 2002, under this chapter or sections 62A.46 to 62A.56.

(b) For certificates issued on or after July 1, 2001, under a group long-term care
insurance policy as defined in section 62S.01, subdivision 15, issued under this chapter,
that was in force on July 1, 2001, this section applies on the policy anniversary following
June 30, 2002.

EFFECTIVE DATE.

This section is effective the day following final enactment.