Minnesota Statutes 72A.05 – Failure to Make Report or Comply With Law
Current as of: 2023 | Check for updates
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Every officer and agent of any insurance company required to make any report or perform any act who shall neglect or refuse to comply with such requirement, and every agent, solicitor, or collector of the corporation in this state who fails or neglects to procure from the commissioner a certificate of authority to do such business, or who fails or refuses to comply with, or violates, any provision of the insurance law, shall be guilty, for the first offense, of a misdemeanor, and for each subsequent offense, of a gross misdemeanor.
Attorney's Note
Under the Minnesota Statutes, punishments for crimes depend on the classification. In the case of this section:| Class | Prison | Fine |
|---|---|---|
| Gross misdemeanor | up to 1 year | up to $3,000 |
| Misdemeanor | up to 90 days | up to $1,000 |
Terms Used In Minnesota Statutes 72A.05
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- state: extends to and includes the District of Columbia and the several territories. See Minnesota Statutes 645.44