Minnesota Statutes 61A.22 – Contracts to Specify Benefits and Consideration
Current as of: 2023 | Check for updates
|
Other versions
No life insurance company shall make any insurance, guaranty, contract, or pledge in this state, or to or with any citizen or resident thereof, which does not distinctly specify the amount and manner of payment of benefits and the consideration therefor, except that contracts on a variable basis need not specify the amount of benefits thereunder or consideration after the initial premium.
Terms Used In Minnesota Statutes 61A.22
- Contract: A legal written agreement that becomes binding when signed.
- state: extends to and includes the District of Columbia and the several territories. See Minnesota Statutes 645.44