1.1 	A bill for an act
1.2 	relating to insurance; regulating the sale of group health policies to school 
1.3 	organizations;proposing coding for new law in Minnesota Statutes, chapter 60K.
1.4 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.5 	Section 1. [60K.382] SALE OF GROUP HEALTH INSURANCE POLICY TO 
1.6 	SCHOOL ORGANIZATION.
1.7 		Subdivision 1.School organization. For the purposes of this section "school 
1.8 	organization" means a school district, charter school, or teacher cooperative.
1.9 		Subd. 2.Disclosures. An insurance producer that sells, solicits, or negotiates a 
1.10 	group health insurance policy with a school organization shall disclose, prior to completion 
1.11 	of the sale, all commissions, services fees, brokerage, or other valuable consideration the 
1.12 	insurance producer may receive for all insurance sold to the school organization. 
1.13 		Subd. 3.Fiduciary duty. While the insurance producer sells, solicits, or negotiates 
1.14 	a group health insurance policy with the school organization, the insurance producer shall 
1.15 	act in a fiduciary capacity on behalf of the school organization.

1.16 	EFFECTIVE DATE. This section is effective August 1, 2015.