Minnesota Administrative Rules

2767.0900 BOND AMOUNTS.

Subpart 1.

Administrator not commingling funds.

The amount of the fidelity bond required under part 2767.0400, subpart 2, item F for an administrator that does not commingle funds of either its fiduciary account or claims-paying account must be in the amount of the average daily balance of all trust accounts, or $100,000, whichever is greater, up to a maximum of $1,000,000.

Subp. 2.

Administrator commingling funds.

The amount of the fidelity bond required under part 2767.0400, subpart 2, item F for an administrator that commingles funds of either its fiduciary account or claims-paying account must be in the amount of the average daily balance of all trust accounts, or $250,000, whichever is greater, up to a maximum of $2,000,000.

Statutory Authority:

MS s 60A.23

History:

9 SR 2580

Published Electronically:

September 14, 2007