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Chapter 60L
Section 60L.09
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Recent History
This is an historical version of this statute chapter. Also view the most recent published version.
60L.09 PROTECTION AGAINST CURRENCY FLUCTUATIONS.
An insurer doing business that requires it to make payments in different currencies shall have
investments in securities in each of these currencies in an amount that independently of all other
investments meets the requirements of sections 60L.01 to 60L.15 as applied separately to the
insurer's obligations in each currency. The commissioner may by order exempt an insurer, or a
class of insurers, from this requirement if the obligations in other currencies are small enough
that no significant problem for financial solidity would be created by substantial fluctuations
in relative currency values.
History: 1998 c 319 s 9
An insurer doing business that requires it to make payments in different currencies shall have
investments in securities in each of these currencies in an amount that independently of all other
investments meets the requirements of sections 60L.01 to 60L.15 as applied separately to the
insurer's obligations in each currency. The commissioner may by order exempt an insurer, or a
class of insurers, from this requirement if the obligations in other currencies are small enough
that no significant problem for financial solidity would be created by substantial fluctuations
in relative currency values.
History: 1998 c 319 s 9
Official Publication of the State of Minnesota
Revisor of Statutes