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2006 Minnesota Statutes
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Chapter 60A
Section 60A.175
Topics
This is an historical version of this statute chapter. Also view the most recent published version.
60A.175 AGENT COMMISSIONS.
(a) An insurer that cancels a written agreement with an agent under section 60A.171 or
60A.172 or cancels a line of business sold by the agent must pay to the agent all commissions,
bonuses, and other compensation earned by that agent prior to or after termination. The
commission rate must be the rate in effect at the time of the notice of termination.
(b) An insurer may not reduce agent commissions, bonuses, or other compensation contained
in written agreements without first providing written notice of the change to the agent at least
180 days before its effective date.
History: 1989 c 170 s 2; 1991 c 39 s 2
(a) An insurer that cancels a written agreement with an agent under section 60A.171 or
60A.172 or cancels a line of business sold by the agent must pay to the agent all commissions,
bonuses, and other compensation earned by that agent prior to or after termination. The
commission rate must be the rate in effect at the time of the notice of termination.
(b) An insurer may not reduce agent commissions, bonuses, or other compensation contained
in written agreements without first providing written notice of the change to the agent at least
180 days before its effective date.
History: 1989 c 170 s 2; 1991 c 39 s 2
Official Publication of the State of Minnesota
Revisor of Statutes