Minnesota Statutes 60A.179 – Life or Health Insurance Sales Quotas for Exclusive Agents
Current as of: 2023 | Check for updates
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Subdivision 1.Application.
This section applies to licensed insurance agents as defined by section 60A.176.
Subd. 2.Prohibited practice.
Terms Used In Minnesota Statutes 60A.179
- Contract: A legal written agreement that becomes binding when signed.
Terms Used In Minnesota Statutes 60A.179
- Contract: A legal written agreement that becomes binding when signed.
No insurer shall require an agent who has been licensed as an agent three years or more to sell a specified number of life or health insurance policies or a specified dollar amount of life and health insurance in relation to the sale of other insurance products. No insurer may terminate an agent’s contract or reduce or restrict an agent’s underwriting authority on property and casualty insurance policies based upon the sale of life or health insurance.