Minnesota § 60L.11 EFFECT OF INVESTMENT RESTRICTIONS

Minnesota Statutes

§ 60L.11 — EFFECT OF INVESTMENT RESTRICTIONS

Minnesota § 60L.11

PartINSURANCE

Ch. 60LINVESTMENTS OF INSURERS

This text of Minnesota § 60L.11 (EFFECT OF INVESTMENT RESTRICTIONS) 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.11 (2026).

Text

Subdivision 1.Invested assets.
Invested assets may be counted toward satisfaction of the minimum asset requirement only so far as they are invested in compliance with sections60L.01to60L.15and orders issued by the commissioner. Assets other than invested assets may be counted toward satisfaction of the minimum asset requirement at admitted annual statement value.

Subd. 2.Admitted asset.
An investment which is held as an admitted asset by an insurer on the date on which sections60L.01to60L.15begin to govern the insurer and which qualified as an admitted asset immediately before this date remain qualified as an admitted asset under sections60L.01to60L.15.

Subd. 3.Acquired assets.
Assets acquired in the bona fide enforcement of creditors' rights or in bona fide workouts or settlements of d

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Subdivision 1.Invested assets.
Invested assets may be counted toward satisfaction of the minimum asset requirement only so far as they are invested in compliance with sections60L.01to60L.15and orders issued by the commissioner. Assets other than invested assets may be counted toward satisfaction of the minimum asset requirement at admitted annual statement value.

Subd. 2.Admitted asset.
An investment which is held as an admitted asset by an insurer on the date on which sections60L.01to60L.15begin to govern the insurer and which qualified as an admitted asset immediately before this date remain qualified as an admitted asset under sections60L.01to60L.15.

Subd. 3.Acquired assets.
Assets acquired in the bona fide enforcement of creditors' rights or in bona fide workouts or settlements of disputed claims may be counted for the purposes of subdivision 1 for five years after acquisition if real property and three years if not real property, even if they could not otherwise be counted under sections60L.01to60L.15. The commissioner may allow reasonable extensions of these periods if replacement of the assets within the periods would not be possible without substantial loss.

Subd. 4.Liquidation and rehabilitation.
If an insurer does not own, or is unable to apply toward compliance with sections60L.01to60L.15, an amount of assets equal to its minimum asset requirement, the commissioner may consider it to be financially hazardous under section60B.15;60B.20; or60G.20.