Minnesota § 61A.45 LIMITATION ON EXPENSES; COMPANIES WITH RESERVE DEPOSITS

Minnesota Statutes

§ 61A.45 — LIMITATION ON EXPENSES; COMPANIES WITH RESERVE DEPOSITS

Minnesota § 61A.45

PartINSURANCE

Ch. 61ALIFE INSURANCE

This text of Minnesota § 61A.45 (LIMITATION ON EXPENSES; COMPANIES WITH RESERVE DEPOSITS) 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. § 61A.45 (2026).

Text

No company, as described in section61A.39, transacting the business of casualty or health insurance in this state shall incur, lay out, or expend, in any one calendar year, as and for the expenses of conducting such business, more than its application or membership fees and 40 percent of its total premiums or assessments. When any such company shall have on deposit with the commissioner a reserve of $25,000, as provided by law, then and thereafter the company may expend, in addition to the 40 percent, the interest earnings on the reserve fund and the interest on any additional surplus funds it may accumulate.
Any officer of any corporation violating, or consenting to the violation of, this section or section61A.44shall be guilty of a gross misdemeanor.

Free access — add to your briefcase to read the full text and ask questions with AI

No company, as described in section61A.39, transacting the business of casualty or health insurance in this state shall incur, lay out, or expend, in any one calendar year, as and for the expenses of conducting such business, more than its application or membership fees and 40 percent of its total premiums or assessments. When any such company shall have on deposit with the commissioner a reserve of $25,000, as provided by law, then and thereafter the company may expend, in addition to the 40 percent, the interest earnings on the reserve fund and the interest on any additional surplus funds it may accumulate.
Any officer of any corporation violating, or consenting to the violation of, this section or section61A.44shall be guilty of a gross misdemeanor.