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2006 Minnesota Statutes
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Chapter 64B
Section 64B.30
Topics
Recent History
- 2005 Subd. 3 New 2005 c 118 s 11
- 2000 Subd. 1 Amended 2000 c 483 s 18
This is an historical version of this statute chapter. Also view the most recent published version.
64B.30 DOMESTIC ASSOCIATIONS; EXAMINATION; REHABILITATION;
DISSOLUTION.
Subdivision 1. Visitation and examination. The commissioner, or any person the
commissioner may appoint, shall have the power of visitation and examination into the affairs
of any domestic society. The commissioner shall conduct an examination at least as often as is
required in section 60A.031, subdivision 1. The commissioner may:
(1) employ assistance for the purposes of examination and the commissioner, or any person
the commissioner may appoint, shall have free access to any books, papers, and documents that
relate to the business of the association; and
(2) summon and qualify as witnesses, under oath, and examine its officers, agents, and
employees, or other persons, in relation to the affairs, transactions, and condition of the
association.
Subd. 2. Conditions. Wherever the commissioner is satisfied that any of the conditions exist
as stated in chapter 60B, the commissioner may proceed as provided therein.
Subd. 3. Voluntary dissolution. Upon application to the commissioner, a domestic
society may request that it be dissolved and that its existence be terminated. Such application
shall demonstrate that the applicant has satisfied its members' policy obligations or that it has
transferred such obligations to another society, domestic or foreign, by means of assumption or
bulk reinsurance or otherwise, that the applicant's supreme governing body has approved such
termination and dissolution and that the application includes such other information that the
commissioner requires. Any limitation in section 64B.13 related to reinsurance by a domestic
society with another society shall not apply to reinsurance entered into in conjunction with the
transfer of member policy obligations as a part of a voluntary dissolution. Upon the approval of
the application by the commissioner, the society shall be deemed dissolved and its existence
terminated upon the date set forth in the application.
History: 1985 c 49 s 30; 1986 c 444; 2000 c 483 s 18; 2005 c 118 s 11
DISSOLUTION.
Subdivision 1. Visitation and examination. The commissioner, or any person the
commissioner may appoint, shall have the power of visitation and examination into the affairs
of any domestic society. The commissioner shall conduct an examination at least as often as is
required in section 60A.031, subdivision 1. The commissioner may:
(1) employ assistance for the purposes of examination and the commissioner, or any person
the commissioner may appoint, shall have free access to any books, papers, and documents that
relate to the business of the association; and
(2) summon and qualify as witnesses, under oath, and examine its officers, agents, and
employees, or other persons, in relation to the affairs, transactions, and condition of the
association.
Subd. 2. Conditions. Wherever the commissioner is satisfied that any of the conditions exist
as stated in chapter 60B, the commissioner may proceed as provided therein.
Subd. 3. Voluntary dissolution. Upon application to the commissioner, a domestic
society may request that it be dissolved and that its existence be terminated. Such application
shall demonstrate that the applicant has satisfied its members' policy obligations or that it has
transferred such obligations to another society, domestic or foreign, by means of assumption or
bulk reinsurance or otherwise, that the applicant's supreme governing body has approved such
termination and dissolution and that the application includes such other information that the
commissioner requires. Any limitation in section 64B.13 related to reinsurance by a domestic
society with another society shall not apply to reinsurance entered into in conjunction with the
transfer of member policy obligations as a part of a voluntary dissolution. Upon the approval of
the application by the commissioner, the society shall be deemed dissolved and its existence
terminated upon the date set forth in the application.
History: 1985 c 49 s 30; 1986 c 444; 2000 c 483 s 18; 2005 c 118 s 11
Official Publication of the State of Minnesota
Revisor of Statutes