1999 Minnesota Statutes

     60H.03 Licensure. 

    Subdivision 1.    Risks located in state.  A managing 
 general agent representing an insurer licensed in this state 
 with respect to risks located in this state must be licensed in 
 this state. 

    Subd. 2.    Risks located outside of state.  A managing 
 general agent representing an insurer domiciled in this state 
 with respect to risks located outside this state must be 
 licensed in this state as a managing general agent.  The license 
 may be a nonresident license.  

    Subd. 3.    Requirements.  The commissioner may require 
 a bond in an amount acceptable for the protection of the insurer.
 The commissioner may require the managing general agent to 
 maintain an errors and omissions policy. 

    HIST: 1991 c 325 art 4 s 3