60A.135 REPORT; CERTAIN TRANSACTIONS.
Subdivision 1. Requirement.
Every insurer domiciled in this state shall file a report with the
commissioner disclosing material acquisitions and dispositions of assets or material nonrenewals,
cancellations, or revisions of ceded reinsurance agreements unless the acquisitions and
dispositions of assets or material nonrenewals, cancellations, or revisions of ceded reinsurance
agreements have been submitted to the commissioner for review, approval, or information
purposes pursuant to other provisions of law, rule, or other requirements.
Subd. 2. Date due.
The report required in subdivision 1 is due within 15 days after the end of
the calendar month in which the transactions occur.
Subd. 3. Filing.
One complete copy of the report, including exhibits or other attachments
filed as part of it, must be filed with the National Association of Insurance Commissioners.
Subd. 4. Confidentiality.
Reports filed with the commissioner pursuant to sections
must be held as nonpublic data as defined in section
, are not subject to
subpoena, and may not be made public by the commissioner, the National Association of
Insurance Commissioners, or other person, except to insurance departments of other states,
without the prior written consent of the insurer to which it pertains. However, the commissioner
may publish all or part of a report in the manner the commissioner considers appropriate if, after
giving the affected insurer notice and an opportunity to be heard, the commissioner determines
that the interest of policyholders, shareholders, or the public will be served by the publication.
History: 1995 c 214 s 7