A public adjuster who receives, accepts, or holds any funds on behalf of an insured, towards the settlement of a claim for loss or damage, shall deposit the funds in a non-interest-bearing escrow or trust account in a financial institution that is insured by an agency of the federal government in the public adjuster's home state or where the loss occurred.
NOTE: This section, as added by Laws 2009, chapter 63, section 58, is effective July 1, 2010. Laws 2009, chapter 63, section 78.
Official Publication of the State of Minnesota
Revisor of Statutes