Minnesota Statutes 61A.52 – Reserve Required
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No casualty company or association organized under the cooperative or assessment laws of this state not having a reserve of at least $25,000 on deposit with the commissioner shall issue policies or contracts providing for the payment of endowments of any kind.
Terms Used In Minnesota Statutes 61A.52
- association: shall be construed to mean life insurance company unless the context clearly indicates otherwise. See Minnesota Statutes 61A.01
- state: extends to and includes the District of Columbia and the several territories. See Minnesota Statutes 645.44