2006 Minnesota Statutes

79A.13 AUDIT; ANNUAL REPORT.
The trustees shall annually contract for an independent certified audit of the financial
activities of the fund. An annual report on the financial status of the fund as of June 30 shall be
submitted to the commissioner and to each member.
The security fund shall be established on July 1, 1988, or 90 days after July 1, 1988,
whichever occurs later. All applications for private self-insurers which are made after July 1,
1988, prior to the establishment of the security fund, shall comply with all requirements of this
chapter. Applications for private self-insurers which are made after January 1, 1988, but prior to
July 1, 1988, shall, prior to the establishment of the security fund, comply with the requirements
of this chapter. The security fund shall be liable for payment of benefits only for members where
there has been a declaration of bankruptcy or insolvency by a court of competent jurisdiction
after the date on which the security fund is established, or where the commissioner has issued a
certificate of default which has occurred after the date on which the security fund is established.
History: 1988 c 674 s 13