Minnesota § 60A.725 DUTIES OF INSURERS UTILIZING THE SERVICES OF A REINSURANCE INTERMEDIARY-BROKER

Minnesota Statutes

§ 60A.725 — DUTIES OF INSURERS UTILIZING THE SERVICES OF A REINSURANCE INTERMEDIARY-BROKER

Minnesota § 60A.725

PartINSURANCE

Ch. 60AGENERAL INSURANCE POWERS

This text of Minnesota § 60A.725 (DUTIES OF INSURERS UTILIZING THE SERVICES OF A REINSURANCE INTERMEDIARY-BROKER) 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.725 (2026).

Text

(a)An insurer shall not engage the services of a person, firm, association, or corporation to act as an RB on its behalf unless the person is licensed as required by section60A.71, subdivision 1.

(b)An insurer may not employ an individual who is employed by an RB with which it transacts business, unless the RB is under common control with the insurer and subject to chapter 60D.

(c)The insurer shall annually obtain a copy of statements of the financial condition of each RB with which it transacts business.

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(a) An insurer shall not engage the services of a person, firm, association, or corporation to act as an RB on its behalf unless the person is licensed as required by section60A.71, subdivision 1.
(b) An insurer may not employ an individual who is employed by an RB with which it transacts business, unless the RB is under common control with the insurer and subject to chapter 60D.
(c) The insurer shall annually obtain a copy of statements of the financial condition of each RB with which it transacts business.