SF 3345

2nd Engrossment - 82nd Legislature (2001 - 2002) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to insurance; regulating certain credit 
  1.3             scoring procedures; proposing coding for new law in 
  1.4             Minnesota Statutes, chapter 60K. 
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  [60K.21] [CREDIT SCORING PROCEDURES.] 
  1.7      Every insurer writing private passenger automobile 
  1.8   insurance regulated under chapter 65B or homeowners insurance 
  1.9   regulated under chapter 65A that uses credit scoring for 
  1.10  underwriting purposes must make available to its licensed 
  1.11  insurance producers, as defined in section 60K.31, procedures to 
  1.12  obtain credit information and credit scores on insureds or 
  1.13  applicants including guidelines for compliance with state and 
  1.14  federal credit reporting requirements and privacy laws.