Minnesota Session Laws - 2004, Regular Session

                            CHAPTER 212-H.F.No. 2017 
                  An act relating to insurance; regulating the joint 
                  underwriting association; modifying coverage; amending 
                  Minnesota Statutes 2002, section 62F.04, by adding a 
                  subdivision. 
        BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
           Section 1.  Minnesota Statutes 2002, section 62F.04, is 
        amended by adding a subdivision to read: 
           Subd. 2a.  [HIGHER LIMITS FOR LONG-TERM CARE PROVIDERS.] In 
        addition to the policies described in subdivision 2, the 
        association may issue policies to long-term care providers who 
        are members of an activated class with limits not to exceed 
        $2,000,000 for each claimant under one policy and $4,000,000 for 
        all claimants under one policy in any one year, provided that 
        the association finds that the applicant needs the higher limits 
        in order to conduct its business.  Prudent business practice or 
        mere desire to have higher limits is not a sufficient standard 
        for the association to issue such policies. 
           Sec. 2.  [EFFECTIVE DATE.] 
           Section 1 is effective the day following final enactment. 
           Presented to the governor May 14, 2004 
           Signed by the governor May 18, 2004, 4:15 p.m.