language to be deleted (2) new language
CHAPTER 564-S.F.No. 2690 An act relating to insurance; township mutual fire insurance; allowing companies to issue policies in combination with the policies of other insurers; proposing coding for new law in Minnesota Statutes, chapter 67A. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: Section 1. [67A.191] [COMBINATION POLICIES.] Subdivision 1. [FARM RISKS.] A township mutual fire insurance company may issue an insurance policy for qualified property as defined in section 67A.14, subdivision 1, in combination with a policy issued by an insurer authorized to sell property and casualty insurance in this state. Except as provided in subdivision 2, the portions of the combination policy issued by a township mutual insurance company are excluded from all provisions of the insurance laws of this state as provided in section 67A.25, subdivision 2. Subd. 2. [HOMEOWNER'S RISKS.] A township mutual fire insurance company may issue policies for homeowner's insurance as defined in section 65A.27, subdivision 4, only in combination with a policy issued by an insurer authorized to sell property and casualty insurance in this state. All portions of the combination policy providing homeowner's insurance, including those issued by a township mutual insurance company, shall be subject to the provisions of chapter 65A. Sec. 2. [EFFECTIVE DATE.] Section 1 is effective the day following final enactment. Presented to the governor May 2, 1994 Signed by the governor May 4, 1994, 3:14 p.m.
Official Publication of the State of Minnesota
Revisor of Statutes