Minnesota § 60L.09 PROTECTION AGAINST CURRENCY FLUCTUATIONS

Minnesota Statutes

§ 60L.09 — PROTECTION AGAINST CURRENCY FLUCTUATIONS

Minnesota § 60L.09

PartINSURANCE

Ch. 60LINVESTMENTS OF INSURERS

This text of Minnesota § 60L.09 (PROTECTION AGAINST CURRENCY FLUCTUATIONS) 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. § 60L.09 (2026).

Text

An insurer doing business that requires it to make payments in different currencies shall have investments in securities in each of these currencies in an amount that independently of all other investments meets the requirements of sections60L.01to60L.15as applied separately to the insurer's obligations in each currency. The commissioner may by order exempt an insurer, or a class of insurers, from this requirement if the obligations in other currencies are small enough that no significant problem for financial solidity would be created by substantial fluctuations in relative currency values.

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An insurer doing business that requires it to make payments in different currencies shall have investments in securities in each of these currencies in an amount that independently of all other investments meets the requirements of sections60L.01to60L.15as applied separately to the insurer's obligations in each currency. The commissioner may by order exempt an insurer, or a class of insurers, from this requirement if the obligations in other currencies are small enough that no significant problem for financial solidity would be created by substantial fluctuations in relative currency values.