US Laws, Codes, Statutes & Cases

     72A.03 Agent of insurer; procuring premiums by fraud.  

    Every insurance agent who acts for another in negotiating a 
 contract of insurance by an insurance company shall be held to 
 be the company's agent for the purpose of collecting or securing 
 the premiums therefor, whatever conditions or stipulations may 
 be contained in the contract or policy.  Any such agent who by 
 fraudulent representations procures payment, or an obligation 
 for the payment, of an insurance premium shall be guilty, for 
 the first offense, of a misdemeanor, and for each subsequent 
 offense, of a gross misdemeanor.  

    HIST: 1967 c 395 art 12 s 3; 1986 c 444 

Copyright 2005 by the Office of Revisor of Statutes, State of Minnesota.