Skip to main content Skip to office menu Skip to footer
Minnesota Legislature

Office of the Revisor of Statutes

353.16 AUDIT OF BOOKS AND ACCOUNTS; INSURANCE LAWS NOT APPLICABLE.
None of the laws of this state regulating insurance or insurance companies shall apply to
the retirement association or any of its funds. The books and accounts of the association and
the retirement fund shall be examined and audited annually, if funds and personnel permit, by
the legislative auditor of the state and a full and detailed report thereof made to the board of
trustees. The cost of any examination shall be paid by the retirement association in accordance
with the provisions of section 16A.127, subdivision 7, and for the purposes of this section the
public employees retirement association shall be considered a state agency as referred to in
section 16A.127, subdivision 7.
History: (254-41) 1931 c 307 s 19; 1933 c 374 s 1; 1959 c 645 s 1; 1959 c 650 s 58; 1971
c 106 s 15; 1974 c 229 s 11; 1979 c 50 s 45; 1981 c 224 s 80