2007 Minnesota Statutes

60A.196 DEFINITIONS.
Unless the context otherwise requires, the following terms have the meanings given them for
the purposes of sections 60A.195 to 60A.209:
(a) "Surplus lines insurance" means insurance placed with an insurer permitted to transact
the business of insurance in this state only pursuant to sections 60A.195 to 60A.209.
(b) "Eligible surplus lines insurer" means an insurer recognized as eligible to write insurance
business under sections 60A.195 to 60A.209 but not licensed by any other Minnesota law to
transact the business of insurance.
(c) "Ineligible surplus lines insurer" means an insurer not recognized as an eligible surplus
lines insurer pursuant to sections 60A.195 to 60A.209 and not licensed by any other Minnesota
law to transact the business of insurance. "Ineligible surplus lines insurer" includes a risk retention
group as defined under the Liability Risk Retention Act, Public Law 99-563.
(d) "Surplus lines licensee" or "licensee" means a person licensed under sections 60A.195 to
60A.209 to place insurance with an eligible or ineligible surplus lines insurer.
(e) "Association" means an association registered under section 60A.208.
(f) "Alien insurer" means any insurer which is incorporated or otherwise organized outside
of the United States.
(g) "Insurance laws" means chapters 60 to 79 inclusive.
History: 1981 c 221 s 2; 1987 c 337 s 11