language to be deleted (2) new language
CHAPTER 12-H.F.No. 320 An act relating to insurance; authorizing licensed property-casualty insurance agents to assist in the procurement of surplus lines insurance without a surplus lines insurance license; amending Minnesota Statutes 2000, section 60A.198, subdivision 1. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: Section 1. Minnesota Statutes 2000, section 60A.198, subdivision 1, is amended to read: Subdivision 1. [LICENSE REQUIRED.] A person, as defined in section 60A.02, subdivision 7, shall not act in any other manner as an agent or broker in the transaction of surplus lines insurance unless licensed under sections 60A.195 to 60A.209. A surplus lines license is not required for a licensed resident agent who assists in the procurement of surplus lines insurance with a surplus lines licensee pursuant to sections 60A.195 to 60A.209. Sec. 2. [EFFECTIVE DATE.] Section 1 is effective the day following final enactment. Presented to the governor March 27, 2001 Signed by the governor March 29, 2001, 3:05 p.m.