Minnesota Administrative Rules

2795.1700 REFUNDS.

An agent who receives a request for cancellation of a policy must make the refund or initiate the refund procedures with the insurer, within ten days of the agent's receipt of the request. An agent who receives a refund from an insurer for the account of, or for delivery to, an insured or former insured, must deliver or mail the refund, or cause it to be delivered or mailed to the insured or former insured within five days of receipt.

Statutory Authority:

MS s 60A.17

History:

9 SR 175

Published Electronically:

September 14, 2007