1997 Minnesota Statutes

     69.54 Surcharge on premiums to restore deficiency in 
  special fund. 

    Subdivision 1.    Surcharge.  The commissioner shall 
 order and direct a surcharge to be collected of two percent of 
 the fire, lightning, and sprinkler leakage gross premiums, less 
 return premiums, on all direct business received by any licensed 
 foreign or domestic fire insurance company on property in this 
 city of the first class, or by its agents for it, in cash or 
 otherwise.  This surcharge shall be due and payable from these 
 companies to the state treasurer on March 31, May 31, and 
 October 31 of each calendar year, and if not paid within 30 days 
 after these dates, a penalty of ten percent shall accrue thereon 
 and thereafter this sum and penalty shall draw interest at the 
 rate of one percent per month until paid.  

    Subd. 2.    Enforcement.  The commissioner, or duly 
 authorized agents, may conduct investigations, inquiries, and 
 hearings to enforce the surcharge imposed by subdivision 1 and, 
 in connection with those investigations, inquiries, and 
 hearings, the commissioner and duly authorized agents have the 
 powers conferred upon the commissioner and examiners by section 
 270.06. 

    HIST: (3750-31) Ex1934 c 53 s 1; 1935 c 86 s 1; 1937 c 361 s 
 1; Ex1961 c 21 s 1; 1967 c 762 s 1; 1Sp1986 c 1 art 7 s 4; 1987 
 c 268 art 2 s 24; 1988 c 719 art 19 s 1; 1989 c 277 art 1 s 4; 
 1991 c 291 art 9 s 3