1998 Minnesota Statutes

     60K.10 Term of appointments. 

    All appointments of agents by insurers pursuant to this 
 section shall remain in force until terminated voluntarily by 
 the appointing insurer or the license of the agent has for any 
 reason been terminated during the appointment.  The original 
 appointing insurer, as well as any subsequent appointing 
 insurer, may terminate the appointment of an agent at any time 
 by giving written notice thereof to the commissioner and by 
 sending a copy thereof to the last known address of the agent.  
 The effective date of the termination shall be the date of 
 receipt of the notice by the commissioner unless another date is 
 specified by the insurer in the notice.  Within 30 days after 
 the insurer gives notice of termination to the commissioner, the 
 insurer shall furnish the agent with a current statement of the 
 agent's commission account. 

    Accompanying the notice of a termination given to the 
 commissioner by the insurer shall be a statement of the specific 
 reasons constituting the cause of termination.  Any document, 
 record, or statement relating to the agent which is disclosed or 
 furnished to the commissioner contemporaneously with, or 
 subsequent to, the notice of termination shall be deemed 
 confidential by the commissioner and a privileged 
 communication.  The document, record, or statement furnished to 
 the commissioner shall not be admissible in whole or in part for 
 any purpose in any action or proceeding against (1) the insurer 
 or any of its officers, employees, or representatives submitting 
 or providing the document, record, or statement, or (2) any 
 person, firm, or corporation furnishing in good faith to the 
 insurer the information upon which the reasons for termination 
 are based.  

    HIST: 1992 c 564 art 3 s 12