2007 Minnesota Statutes
This is an historical version of this statute chapter. Also view the most recent published version.
60L.10 PROHIBITED INVESTMENTS.
Subdivision 1. Prohibitions. An insurer may not invest in investments that are prohibited
for an insurer by law. The use of a derivative instrument for any purposes other than hedging,
income generation, or replication is prohibited.
Subd. 2. Disposal of prohibited asset. A reasonable time, not to exceed five years, must
be allowed for disposal of a prohibited investment in hardship cases if the investment is
demonstrated by the insurer to have been legal when made, or the result of a mistake made in
good faith, or if the commissioner determines that the sale of the asset would be contrary to the
interests of insureds, creditors, or the general public.
History: 1998 c 319 s 10; 2001 c 131 s 10
Subdivision 1. Prohibitions. An insurer may not invest in investments that are prohibited
for an insurer by law. The use of a derivative instrument for any purposes other than hedging,
income generation, or replication is prohibited.
Subd. 2. Disposal of prohibited asset. A reasonable time, not to exceed five years, must
be allowed for disposal of a prohibited investment in hardship cases if the investment is
demonstrated by the insurer to have been legal when made, or the result of a mistake made in
good faith, or if the commissioner determines that the sale of the asset would be contrary to the
interests of insureds, creditors, or the general public.
History: 1998 c 319 s 10; 2001 c 131 s 10
Official Publication of the State of Minnesota
Revisor of Statutes