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Minnesota Legislature

Office of the Revisor of Statutes

    Subdivision 1. Commissioner's authority. In order to assist in the performance of the
commissioner's duties under sections 60K.30 to 60K.56, the commissioner:
(1) may share licensing data or any active or inactive investigative data with other state,
federal, and international regulatory agencies, with the National Association of Insurance
Commissioners, its affiliates or subsidiaries, and with state, federal, and international law
enforcement authorities if the recipient agrees to maintain the data in a manner consistent with
its data classification;
(2) may receive documents, materials, or information, including otherwise confidential and
privileged documents, materials, or information, from the National Association of Insurance
Commissioners, its affiliates or subsidiaries, and from regulatory and law enforcement officials
of other foreign or domestic jurisdictions, and shall maintain as confidential or privileged any
document, material, or information received with notice or the understanding that it is confidential
or privileged under the laws of the jurisdiction that is the source of the document, material,
or information; and
(3) may enter into agreements governing sharing and use of information consistent with
this subdivision.
No waiver of any applicable privilege or claim of confidentiality in the documents, materials,
or information occurs as a result of disclosure to the commissioner under this section or as a result
of sharing as authorized in this subdivision.
Nothing in sections 60K.30 to 60K.56 prohibits the commissioner from releasing information
concerning final, adjudicated actions, including for-cause terminations, to a database or other
clearinghouse service maintained by the National Association of Insurance Commissioners, its
affiliates, or subsidiaries of the National Association of Insurance Commissioners.
    Subd. 2. Penalties for failing to report. An insurer, the authorized representative of the
insurer, or a producer that fails to report as required under this section or that is found to have
reported with actual malice by a court of competent jurisdiction may, after notice and hearing,
have its license or certificate of authority suspended or revoked and may be fined in accordance
with section 45.027.
History: 2001 c 117 art 1 s 23; 2002 c 379 art 1 s 26