2007 Minnesota Statutes

66A.10 ADDITIONAL REQUIREMENTS.
When the articles of incorporation of any mutual insurance company not having a guaranty
fund of the amount required by section 66A.16, subdivision 2, provide, it may transact any and
all kinds of business as set forth in section 60A.06, subdivision 1, clauses (1) to (15), and as
authorized under section 60A.06, subdivision 2, subject to the conditions and restrictions as to the
kinds of insurance which may be combined by a like stock insurance company and subject to the
restrictions contained in the laws of this state with reference to general writing mutual insurance
companies transacting the same kinds of business. Nothing in this section shall be construed as
prohibiting a company issuing policies with a contingent liability from creating a guaranty fund
as authorized by section 66A.16, subdivision 3. Any mutual company, however organized, may
amend its articles to provide for the doing of two or more kinds of business specified in section
60A.06, subdivision 1, clauses (1) to (15) or authorized under section 60A.06, subdivision 2.
History: 1967 c 395 art 7 s 10; 1978 c 465 s 13