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Key: (1) language to be deleted (2) new language

CHAPTER 162--S.F.No. 1934

An act

relating to insurance; regulating township mutual fire insurance company combination policies;

amending Minnesota Statutes 2010, section 67A.191.

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

Section 1.

Minnesota Statutes 2010, section 67A.191, is amended to read:

67A.191 COMBINATION POLICIES.

Subdivision 1.

Qualified risks.

A township mutual fire insurance company may issue an insurance policy for qualified and secondary 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. The portions of the combination policy issued by a township mutual insurance company, including those that insure dwellings, whether or not owner occupied, 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 market and issue policies known as "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, are subject to the provisions of chapter 65A and sections 72A.20 and 72A.201.

EFFECTIVE DATE.

This section is effective the day following final enactment, and does not apply to losses incurred before that date.

Presented to the governor April 3, 2012

Signed by the governor April 5, 2012, 03:16 p.m.

Official Publication of the State of Minnesota
Revisor of Statutes