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2795.0100 DEFINITIONS.

Subpart 1.

Scope.

As used in this chapter, the terms defined in this part shall have the meanings given them.

Subp. 2.

Agent.

"Agent" means an insurance agent licensed under Minnesota Statutes, chapter 60K.

Subp. 3.

Brokerage business.

"Brokerage business" means business transacted as provided in Minnesota Statutes, section 60K.08.

Subp. 4.

Commissioner.

"Commissioner" means the commissioner of the Minnesota Department of Commerce.

Subp. 5.

Licensee.

"Licensee" means an individual or an agency licensed under Minnesota Statutes, chapter 60K.

Subp. 6.

Placing agent.

"Placing agent" means a licensed and appointed agent of an insurer through whom an application for insurance is submitted to the insurer on behalf of a soliciting agent who was not appointed by that insurer at the time the application was solicited.

Subp. 7.

Soliciting agent.

"Soliciting agent" means an agent who sells or attempts to sell insurance to a person.

Subp. 8.

Supervising agent.

"Supervising agent" means an agent or general agent who contracts with, employs or engages one or more other agents to solicit applications for insurance, or to otherwise act as insurance agents on the supervising agent's behalf. In the case of an agency required to be licensed under Minnesota Statutes, chapter 60K, the supervising agents, if not specifically designated, shall be the licensed officers of the corporate agency, or the partners of a partnership agency.

Statutory Authority:

MS s 60A.17

History:

9 SR 175

Published Electronically:

September 14, 2007