State statute · Minnesota
Producer license denial, suspension, revocation, or refusal
Minn. Stat. s. 60K.43
Edition and licensing notes
Status. Minnesota Statutes, public domain.
What this document is
Minn. Stat. s. 60K.43: Producer license denial, suspension, revocation, or refusal is a state statute published by Minnesota Office of the Revisor of Statutes. It is one of the Minnesota documents that insurance license exam questions are written from, including minnesota life & health practice questions. This page summarizes it and points to the official version, which is the text to rely on.
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- Minn. Stat. § 60K.43, subd. 1(8) (Causes)
“using fraudulent, coercive, or dishonest practices, or demonstrating incompetence, untrustworthiness, or financial irresponsibility whether or not involving the business of insurance in this state or elsewhere;”
- Minn. Stat. § 60K.43, subd. 1(3) (Causes)
“obtaining or attempting to obtain a license through misrepresentation or fraud;”
- Minn. Stat. § 60K.43, subd. 1(2) (Causes)
“violating any insurance laws, including chapter 45 or chapters 60A to 72A, or violating any regulation, subpoena, or order of the commissioner or of another state's insurance commissioner;”
- Minn. Stat. § 60K.43, subd. 3 (Actions Against Business Entity)
“The license of a business entity may be suspended, revoked, or refused if the commissioner finds, after hearing, that an individual licensee's violation was known or should have been known by one or more of the partners, officers, or managers acting on behalf of the partnership or corporation and...”
- Minn. Stat. § 60K.43, subd. 6 (Conditions for Relicensure)
“A revocation of a license prohibits the licensee from making a new application for a license for at least two years from the effective date of the revocation. Further, the commissioner shall, as a condition of reapplication, require the applicant to obtain a performance bond issued by an insurer...”
- Minn. Stat. § 60K.43, subd. 2(b) (Hearing Rights on Denial or Nonrenewal)
“In the event that the action by the commissioner is to nonrenew or to deny an application for a license, the commissioner shall notify the applicant or licensee and advise, in writing, the applicant or licensee of the reason for the denial or nonrenewal of the applicant's or licensee's license. The...”
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More Minnesota sources
- Minn. Stat. s. 72A.20: Methods, acts, and practices which are unfair or deceptiveState statute
- Minn. Stat. s. 60K.31 et seq.: Insurance producer licensingState statute
- Minn. Stat. ss. 61A.03 et seq.: Life insurance policy provisionsState statute
- Minn. Stat. s. 62A.04: Accident and health policy required and optional provisionsState statute
- Minnesota Statutes Chapter 176 - Workers' Compensation (the Minnesota Workers' Compensation Act: coverage, benefits, procedure, rehabilitation, insurance)State statute
- Minnesota Statutes Chapter 45 - Department of Commerce (the commissioner's powers, enforcement, licensing administration and the 45.027 enforcement section)State statute
- Minnesota Statutes Chapter 60A - Insurance in General, first third (Secs. 60A.01 through 60A.11)State statute
- Minnesota Statutes Chapter 60A, second third (Secs. 60A.112 through 60A.53)State statute