Minnesota § 60D.58 SANCTIONS

Minnesota Statutes

§ 60D.58 — SANCTIONS

Minnesota § 60D.58

PartINSURANCE

Ch. 60DINSURANCE HOLDING COMPANY SYSTEMS

This text of Minnesota § 60D.58 (SANCTIONS) 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. § 60D.58 (2026).

Text

An insurer failing, without just cause, to timely file the ORSA Summary Report as required in sections60D.50to60D.58shall pay a penalty of $1,000 for each day's delay to be recovered by the commissioner and to be paid into the general fund. The commissioner may reduce the penalty if the insurer demonstrates to the commissioner that the imposition of the penalty would constitute a financial hardship to the insurer.

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An insurer failing, without just cause, to timely file the ORSA Summary Report as required in sections60D.50to60D.58shall pay a penalty of $1,000 for each day's delay to be recovered by the commissioner and to be paid into the general fund. The commissioner may reduce the penalty if the insurer demonstrates to the commissioner that the imposition of the penalty would constitute a financial hardship to the insurer.