2006 Minnesota Statutes

62C.08 CERTIFICATE OF AUTHORITY.
    Subdivision 1. Requirement. No service plan corporation shall enter into subscriber
contracts or solicit applications therefor, until it has secured a certificate of authority from the
commissioner. Application for a certificate of authority shall be made upon forms prescribed
by the commissioner.
    Subd. 2. Granting. The commissioner may grant a certificate of authority after determining
that the applicant is in compliance with Laws 1971, chapter 568 with regard to the applicant's
stated purpose, its articles and bylaws and its financial condition, that it has met the filing
requirements of Laws 1971, chapter 568 relating to subscribers' contracts and service agreements
and that the service plan corporation has knowledgeable, responsible management.
    Subd. 3. Foreign service plan corporation. A foreign service plan corporation applying
for a certificate of authority in this state shall be deemed to be a corporation which is organized
under Laws 1971, chapter 568, and such foreign corporation shall be required to meet the same
requirements as an existing domestic corporation provided that no foreign corporation shall be
denied a certificate of authority because its corporate powers exceed those which are permitted
by the laws of this state, although its activities in this state may not exceed the powers of a
domestic service plan corporation.
    Subd. 4. Exception. No certificate of authority shall be required for a foreign service plan
corporation whose activities in this state are limited to servicing members of covered groups
whose contracts have been issued in another state, or for a foreign service plan corporation whose
activities in this state are conducted pursuant to a contract or agreement with a licensed domestic
service plan corporation if such contract or agreement is authorized by section 62C.13.
History: 1971 c 568 s 8; 1986 c 444