2007 Minnesota Statutes
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Chapter 60K
Section 60K.55
Recent History
- 2010 Subd. 2 Amended 2010 c 347 art 6 s 4
- 2009 Subd. 2 Amended 2009 c 63 s 30
- 2007 Subd. 2 Amended 2007 c 57 art 3 s 33
- 2005 Subd. 2 Amended 2005 c 1 art 4 s 5
- 2001 60K.55 New 2001 c 117 art 1 s 26
This is an historical version of this statute chapter. Also view the most recent published version.
60K.55 FEES.
Subdivision 1. Renewal fees. Each producer licensed under this chapter shall pay a renewal
fee as prescribed by subdivision 2.
Subd. 2. Licensing fees. (a) In addition to fees provided for examinations and the technology
surcharge required under paragraph (d), each insurance producer licensed under this chapter shall
pay to the commissioner a fee of:
(1) $50 for an initial life, accident and health, property, or casualty license issued to an
individual insurance producer, and a fee of $50 for each renewal;
(2) $50 for an initial variable life and variable annuity license issued to an individual
insurance producer, and a fee of $50 for each renewal;
(3) $50 for an initial personal lines license issued to an individual insurance producer, and a
fee of $50 for each renewal;
(4) $50 for an initial limited lines license issued to an individual insurance producer, and a
fee of $50 for each renewal;
(5) $200 for an initial license issued to a business entity, and a fee of $200 for each renewal;
and
(6) $500 for an initial surplus lines license, and a fee of $500 for each renewal.
(b) Initial licenses issued under this chapter are valid for a period not to exceed 24 months
and expire on October 31 of the renewal year assigned by the commissioner. Each renewal
insurance producer license is valid for a period of 24 months. Licensees who submit renewal
applications postmarked or delivered on or before October 15 of the renewal year may continue to
transact business whether or not the renewal license has been received by November 1. Licensees
who submit applications postmarked or delivered after October 15 of the renewal year must not
transact business after the expiration date of the license until the renewal license has been received.
(c) All fees are nonreturnable, except that an overpayment of any fee may be refunded
upon proper application.
(d) In addition to the fees required under paragraph (a), individual insurance producers shall
pay, for each initial license and renewal, a technology surcharge of up to $40 under section 45.24,
unless the commissioner has adjusted the surcharge as permitted under that section.
History: 2001 c 117 art 1 s 26; 1Sp2005 c 1 art 4 s 5; 2007 c 57 art 3 s 33
Subdivision 1. Renewal fees. Each producer licensed under this chapter shall pay a renewal
fee as prescribed by subdivision 2.
Subd. 2. Licensing fees. (a) In addition to fees provided for examinations and the technology
surcharge required under paragraph (d), each insurance producer licensed under this chapter shall
pay to the commissioner a fee of:
(1) $50 for an initial life, accident and health, property, or casualty license issued to an
individual insurance producer, and a fee of $50 for each renewal;
(2) $50 for an initial variable life and variable annuity license issued to an individual
insurance producer, and a fee of $50 for each renewal;
(3) $50 for an initial personal lines license issued to an individual insurance producer, and a
fee of $50 for each renewal;
(4) $50 for an initial limited lines license issued to an individual insurance producer, and a
fee of $50 for each renewal;
(5) $200 for an initial license issued to a business entity, and a fee of $200 for each renewal;
and
(6) $500 for an initial surplus lines license, and a fee of $500 for each renewal.
(b) Initial licenses issued under this chapter are valid for a period not to exceed 24 months
and expire on October 31 of the renewal year assigned by the commissioner. Each renewal
insurance producer license is valid for a period of 24 months. Licensees who submit renewal
applications postmarked or delivered on or before October 15 of the renewal year may continue to
transact business whether or not the renewal license has been received by November 1. Licensees
who submit applications postmarked or delivered after October 15 of the renewal year must not
transact business after the expiration date of the license until the renewal license has been received.
(c) All fees are nonreturnable, except that an overpayment of any fee may be refunded
upon proper application.
(d) In addition to the fees required under paragraph (a), individual insurance producers shall
pay, for each initial license and renewal, a technology surcharge of up to $40 under section 45.24,
unless the commissioner has adjusted the surcharge as permitted under that section.
History: 2001 c 117 art 1 s 26; 1Sp2005 c 1 art 4 s 5; 2007 c 57 art 3 s 33
Official Publication of the State of Minnesota
Revisor of Statutes