Minnesota § 60A.175 AGENT COMMISSIONS

Minnesota Statutes

§ 60A.175 — AGENT COMMISSIONS

Minnesota § 60A.175

PartINSURANCE

Ch. 60AGENERAL INSURANCE POWERS

This text of Minnesota § 60A.175 (AGENT COMMISSIONS) is published on Counsel Stack Legal Research, covering Minnesota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Minn. Stat. § 60A.175 (2026).

Text

(a)An insurer that cancels a written agreement with an agent under section60A.171or60A.172or cancels a line of business sold by the agent must pay to the agent all commissions, bonuses, and other compensation earned by that agent prior to or after termination. The commission rate must be the rate in effect at the time of the notice of termination.

(b)An insurer may not reduce agent commissions, bonuses, or other compensation contained in written agreements without first providing written notice of the change to the agent at least 180 days before its effective date.

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(a) An insurer that cancels a written agreement with an agent under section60A.171or60A.172or cancels a line of business sold by the agent must pay to the agent all commissions, bonuses, and other compensation earned by that agent prior to or after termination. The commission rate must be the rate in effect at the time of the notice of termination.
(b) An insurer may not reduce agent commissions, bonuses, or other compensation contained in written agreements without first providing written notice of the change to the agent at least 180 days before its effective date.