1999 Minnesota Statutes

     61A.19 Company requirements. 

    No company shall deliver or issue for delivery within this 
 state contracts on a variable basis unless it is licensed or 
 organized to do a life insurance or annuity business in this 
 state, and the commissioner is satisfied that its condition or 
 method of operation in connection with the issuance of such 
 contracts will not render its operation hazardous to the public 
 or its policyholders in this state.  In this connection, the 
 commissioner shall consider among other things: 

    (a) The history and financial condition of the company; 

    (b) The character, responsibility and fitness of the 
 officers and directors of the company; and 

    (c) The law and regulation under which the company is 
 authorized in the state of domicile to issue such contracts.  
 The state of entry of an alien company shall be deemed to be 
 state of domicile for this purpose.  

    HIST: 1967 c 395 art 2 s 19; 1969 c 752 s 13; 1973 c 480 s 4; 
 1995 c 214 s 14