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62G.10 Certificate of authority.

Subdivision 1. No legal service plan corporation shall enter into subscribers contracts or solicit applications therefor, until it has secured a certificate of authority from the commissioner. Application for a certificate of authority shall be made upon forms prescribed by the commissioner.

Subd. 2. The commissioner shall grant a certificate of authority after determining that the applicant is in compliance with sections 62G.01 to 62G.25 with regard to the applicant's stated purpose, its articles and bylaws and its financial condition, that it has met the filing requirements of sections 62G.01 to 62G.25 relating to subscribers contracts and service agreements and that the legal service plan corporation has knowledgeable, responsible management.

Subd. 3. A foreign legal service plan corporation applying for a certificate of authority in this state shall be deemed to be a legal service plan corporation which is organized under sections 62G.01 to 62G.25. A foreign legal service plan corporation is required to meet the same requirements as an existing domestic legal service plan corporation except that no foreign legal service plan corporation shall be denied a certificate of authority because its corporate powers exceed those which are authorized by the laws of this state. The activities of a foreign legal service plan corporation in this state may not exceed the powers of a domestic legal service plan corporation.

Subd. 4. No certificate of authority is required for a foreign legal service plan corporation whose activities in this state are limited to servicing members of covered groups whose contracts have been issued in another state, or from a foreign legal service plan corporation whose activities in this state are conducted pursuant to a contract or agreement with a licensed domestic legal service plan corporation, if the contract or agreement is authorized by section 62G.15.

HIST: 1978 c 785 s 10; 1986 c 444

Official Publication of the State of Minnesota
Revisor of Statutes