Section 72A.41 — Transacting Business Without Certificate Of Authority.
72A.41 TRANSACTING BUSINESS WITHOUT CERTIFICATE OF AUTHORITY. Subdivision 1. Prohibition; exception. It is unlawful for any company to enter into a contract of insurance as an insurer or to transact insurance business in this state, as set forth in subdivision 2, without a certificate of authority from the commissioner; provided that this subdivision does not […]
Section 72A.42 — Enforcement Authority.
72A.42 ENFORCEMENT AUTHORITY. Subdivision 1. Injunctions. Whenever the commissioner believes, from evidence satisfactory to the commissioner, that any company is violating or about to violate the provisions of section 72A.41, the commissioner may, through the attorney general of this state, cause a complaint to be filed in the District Court of Ramsey County to enjoin […]
Section 72A.43 — Service Of Process Upon Unauthorized Company By Commissioner.
72A.43 SERVICE OF PROCESS UPON UNAUTHORIZED COMPANY BY COMMISSIONER. Subdivision 1. Appointment of agent. Any act of entering into a contract of insurance or annuity as an insurer or transacting insurance business in this state as set forth in subdivision 2 of section 72A.41, by an unauthorized company is equivalent to and shall constitute an […]
Section 72A.44 — Penalty.
72A.44 PENALTY. Any company that violates subdivision 1 of section 72A.41, shall be required to pay a penalty of not less than $100 nor more than $1,000 for each offense, to be recovered on behalf of the state. History: 1967 c 590 s 5
Section 72A.40 — Purpose.
72A.40 PURPOSE. The legislature declares that it is a subject of concern that many residents of this state hold policies of insurance issued or delivered in this state by insurers not authorized to do insurance business in this state. The legislature further declares that it desires to protect residents of this state against acts by […]