Minnesota Legislature
Office of the Revisor of Statutes
2006 Minnesota Statutes
This is an historical version of this statute chapter. Also view the most recent published version.
60H.03 LICENSURE.
Subdivision 1. Risks located in state. A managing general agent representing an insurer
licensed in this state with respect to risks located in this state must be licensed in this state.
Subd. 2. Risks located outside of state. A managing general agent representing an insurer
domiciled in this state with respect to risks located outside this state must be licensed in this state
as a managing general agent. The license may be a nonresident license.
Subd. 3. Requirements. The commissioner may require a bond in an amount acceptable
for the protection of the insurer. The commissioner may require the managing general agent
to maintain an errors and omissions policy.
Subd. 4. Term and fees. The term of a managing general agent license issued under this
section and the license fees imposed are the same as those applicable to a licensed insurance
agent under chapter 60K.
History: 1991 c 325 art 4 s 3; 2000 c 483 s 5; 2000 c 488 art 2 s 2
Subdivision 1. Risks located in state. A managing general agent representing an insurer
licensed in this state with respect to risks located in this state must be licensed in this state.
Subd. 2. Risks located outside of state. A managing general agent representing an insurer
domiciled in this state with respect to risks located outside this state must be licensed in this state
as a managing general agent. The license may be a nonresident license.
Subd. 3. Requirements. The commissioner may require a bond in an amount acceptable
for the protection of the insurer. The commissioner may require the managing general agent
to maintain an errors and omissions policy.
Subd. 4. Term and fees. The term of a managing general agent license issued under this
section and the license fees imposed are the same as those applicable to a licensed insurance
agent under chapter 60K.
History: 1991 c 325 art 4 s 3; 2000 c 483 s 5; 2000 c 488 art 2 s 2
Official Publication of the State of Minnesota
Revisor of Statutes