Minnesota Statutes 609B.111 – Life Insurance Policy Misrepresentation; License Revocation
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The license of any company that authorizes or permits a violation of section 72A.12, subdivision 2, shall be revoked. Upon a conviction under section 72A.12, subdivision 3, the commissioner of commerce shall revoke the license of a company and its agents, and grant no new license within one year after the conviction.
Terms Used In Minnesota Statutes 609B.111
- Conviction: A judgement of guilt against a criminal defendant.