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Minnesota Legislature

Office of the Revisor of Statutes

CHAPTER 61A. Life insurance

Table of Sections
Section Headnote

GENERAL PROVISIONS

61A.01 Life insurance company defined.
61A.011 Interest on unpaid benefits.

CONTRACTS

61A.02 Forms of policy.
61A.021 Sale of life insurance and annuity as single policy prohibited.
61A.03 Required provisions; life insurance policies.
61A.031 Suicide provisions.
61A.04 Spendthrift provisions.
61A.05 Life policies to contain entire contract.
61A.06 Aviation and war risk exclusion permitted.
61A.07 Prohibited provisions.
61A.071 Applications.
61A.072 Policies with accelerated benefits.
61A.073 Life insurance for the benefit of charity.
61A.074 Insurable interests.
61A.08 Exceptions.
61A.09 Group life insurance.
61A.091 Employee group life insurance plans.
61A.092 Continuation of coverage for life insurance.
61A.093 Certificate of insurance.
61A.10 Extension of time for payment of premiums.
61A.11 Misstatement, when not to invalidate policy.
61A.12 Beneficiaries.

CONTRACTS -- VARIABLE BASIS

61A.13 Definitions.
61A.14 Companies entitled to issue contracts; accounts; investments.
61A.15 Contract provisions.
61A.16 Contract provisions.
61A.17 Filing of contracts.
61A.18 Disapproval of contracts.
61A.19 Company requirements.
61A.20 Rules.
61A.21 Application of other laws.

CONTRACTS -- MISCELLANEOUS

61A.22 Contracts to specify benefits and consideration.
61A.23 Provisions in policies; laws of other states.

STANDARD NONFORFEITURE LAW

61A.24 Standard Nonforfeiture Law for Life Insurance.
61A.245 Standard Nonforfeiture Law for Individual Deferred Annuities.

STANDARD VALUATION LAW

61A.25 Standard Valuation Law.
61A.255 Smoker and nonsmoker mortality tables.

DIVIDEND PROVISIONS

61A.26 Dividends.

CONTINGENCY RESERVE

61A.27 Contingency reserve; limitations.

BENEFIT ACCOUNTS

61A.275 Separate accounts; pension plans.
61A.276 Funding agreements.

INVESTMENTS

61A.28 Domestic companies, investments.
61A.281 Investments; subsidiaries.
61A.282 Investments in name of company or nominee and prohibitions.
61A.283 Admitted assets.
61A.284 Investments; capital stock of other insurance companies.
61A.29 Foreign investments.
61A.30 Joint investments.
61A.31 Real estate holdings.
61A.315 Investments and holdings; limitations.

DOMESTIC MUTUAL LIFE COMPANIES;

ADDITIONAL PROVISIONS

61A.32 Domestic mutual and stock and mutual companies; voting rights of members.
61A.321 Guaranty funds.

STOCK AND MUTUAL COMPANIES;

ADDITIONAL PROVISIONS

61A.33 Stock and mutual life insurance companies.
61A.34 Application.
61A.35 Voting rights.
61A.36 Conversion of existing companies; amendment of certificates of incorporation.
61A.37 Domestic insurance corporations may become mutual corporations.
61A.38 May acquire capital stock.

COOPERATIVE COMPANIES;

SPECIAL PROVISIONS

61A.39 Cooperative life and casualty companies.
61A.40 Qualifications for license; number of members.
61A.41 Reserve fund; reciprocal provisions.
61A.42 Payments; liens; assessments; policies to be labeled.
61A.43 Accumulations; amendment to articles or bylaws.
61A.44 Limitation on expenses; life insurance.
61A.45 Limitation on expenses; companies with reserve deposits.
61A.46 Net rates; reserve fund; limitation of expenses.
61A.47 Reinsurance or consolidation.
61A.48 May change to legal reserve or level premium companies.
61A.49 [Repealed, 1987 c 268 art 2 s 38]
61A.50 Application.
61A.51 Insolvency.
61A.52 Reserve required.

REPLACEMENT INSURANCE

61A.53 Definitions.
61A.54 Exemptions.
61A.55 Duties of agents and brokers.
61A.56 Duties of all insurers.
61A.57 Duties of insurers that use agents or brokers.
61A.58 Duties of insurers with respect to direct response sales.
61A.59 Enforcement; effect of compliance.
61A.60 Required replacement notice and form.