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65A.09 Insurance in excess of value.

No company shall knowingly issue any policy upon property in this state for an amount which, together with any existing insurance thereon, exceeds the fair value of the property. Any company willfully insuring property for more than its real value shall forfeit to the state, for the benefit of the school fund, double the premium collected on the policy.

HIST: 1967 c 395 art 6 s 9

Official Publication of the State of Minnesota
Revisor of Statutes