1.1                          A bill for an act 
  1.2             relating to insurance; regulating the joint 
  1.3             underwriting association; modifying coverage; amending 
  1.4             Minnesota Statutes 2002, section 62F.04, by adding a 
  1.5             subdivision. 
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  Minnesota Statutes 2002, section 62F.04, is 
  1.8   amended by adding a subdivision to read: 
  1.9      Subd. 2a.  [HIGHER LIMITS FOR LONG-TERM CARE PROVIDERS.] In 
  1.10  addition to the policies described in subdivision 2, the 
  1.11  association may issue policies to long-term care providers who 
  1.12  are members of an activated class with limits not to exceed 
  1.13  $2,000,000 for each claimant under one policy and $4,000,000 for 
  1.14  all claimants under one policy in any one year, provided that 
  1.15  the association finds that the applicant needs the higher limits 
  1.16  in order to conduct its business.  Prudent business practice or 
  1.17  mere desire to have higher limits is not a sufficient standard 
  1.18  for the association to issue such policies.  
  1.19     Sec. 2.  [EFFECTIVE DATE.] 
  1.20     Section 1 is effective the day following final enactment.