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2006 Minnesota Statutes
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Chapter 60E
Section 60E.12
Topics
This is an historical version of this statute chapter. Also view the most recent published version.
60E.12 DUTY ON AGENTS OR BROKERS TO OBTAIN LICENSE.
Subdivision 1. Risk retention groups. No person, firm, association, or corporation shall act
or aid in any manner in soliciting, negotiating, or procuring liability insurance in this state from a
risk retention group unless the person, firm, association, or corporation is licensed as an insurance
agent or broker in accordance with chapter 60K.
Subd. 2. Purchasing groups. (a) No person, firm, association, or corporation shall act or
aid in any manner in soliciting, negotiating, or procuring liability insurance in this state for
a purchasing group from an authorized insurer or a risk retention group chartered in a state
unless the person, firm, association, or corporation is licensed as an insurance agent or broker in
accordance with chapter 60K.
(b) No person, firm, association, or corporation shall act or aid in any manner in soliciting,
negotiating, or procuring liability insurance coverage in this state for any member of a purchasing
group under a purchasing group's policy unless the person, firm, association, or corporation is
licensed as an insurance agent or broker in accordance with chapter 60K.
(c) No person, firm, association, or corporation shall act or aid in any manner in soliciting,
negotiating, or procuring liability insurance from an insurer not authorized to do business in this
state on behalf of a purchasing group located in this state unless the person, firm, association, or
corporation is licensed as a surplus lines agent or excess line broker in accordance with sections
60A.195 to 60A.209.
Subd. 3. Agent or broker residence requirement. For purposes of acting as an agent
or broker for a risk retention group or purchasing group pursuant to subdivisions 1 and 2, the
requirement of residence in this state does not apply.
Subd. 4. Notice to insureds. Every person, firm, association, or corporation licensed
pursuant to chapter 60A, on business placed with risk retention groups or written through a
purchasing group, shall inform each prospective insured of the provisions of the notice required
by section 60E.04, subdivision 8, in the case of a risk retention group and section 60E.09 in the
case of a purchasing group.
History: 1987 c 192 s 12; 1993 c 299 s 29
Subdivision 1. Risk retention groups. No person, firm, association, or corporation shall act
or aid in any manner in soliciting, negotiating, or procuring liability insurance in this state from a
risk retention group unless the person, firm, association, or corporation is licensed as an insurance
agent or broker in accordance with chapter 60K.
Subd. 2. Purchasing groups. (a) No person, firm, association, or corporation shall act or
aid in any manner in soliciting, negotiating, or procuring liability insurance in this state for
a purchasing group from an authorized insurer or a risk retention group chartered in a state
unless the person, firm, association, or corporation is licensed as an insurance agent or broker in
accordance with chapter 60K.
(b) No person, firm, association, or corporation shall act or aid in any manner in soliciting,
negotiating, or procuring liability insurance coverage in this state for any member of a purchasing
group under a purchasing group's policy unless the person, firm, association, or corporation is
licensed as an insurance agent or broker in accordance with chapter 60K.
(c) No person, firm, association, or corporation shall act or aid in any manner in soliciting,
negotiating, or procuring liability insurance from an insurer not authorized to do business in this
state on behalf of a purchasing group located in this state unless the person, firm, association, or
corporation is licensed as a surplus lines agent or excess line broker in accordance with sections
60A.195 to 60A.209.
Subd. 3. Agent or broker residence requirement. For purposes of acting as an agent
or broker for a risk retention group or purchasing group pursuant to subdivisions 1 and 2, the
requirement of residence in this state does not apply.
Subd. 4. Notice to insureds. Every person, firm, association, or corporation licensed
pursuant to chapter 60A, on business placed with risk retention groups or written through a
purchasing group, shall inform each prospective insured of the provisions of the notice required
by section 60E.04, subdivision 8, in the case of a risk retention group and section 60E.09 in the
case of a purchasing group.
History: 1987 c 192 s 12; 1993 c 299 s 29
Official Publication of the State of Minnesota
Revisor of Statutes