US Laws, Codes, Statutes & Cases

     72A.35 Notice to domiciliary supervisory official. 

    No unauthorized foreign or alien insurer of the kind 
 described in section 72A.33 shall make, issue, circulate or 
 cause to be made, issued or circulated, to residents of this 
 state any estimate, illustration, circular, pamphlet, or letter, 
 or cause to be made in any newspaper, magazine or other 
 publication or over any radio or television station, any 
 announcement or statement to such residents misrepresenting its 
 financial condition or the terms of any contracts issued or to 
 be issued or the benefits or advantages promised thereby, or the 
 dividends or share of the surplus to be received thereon in 
 violation of the Unfair Trade Practice Act, and whenever the 
 commissioner shall have reason to believe that any such insurer 
 is engaging in such unlawful advertising, it shall be the 
 commissioner's duty to give notice of such fact by certified 
 mail to such insurer and to the insurance supervisory official 
 of the domiciliary state of such insurer.  For the purpose of 
 this section, the domiciliary state of an alien insurer shall be 
 deemed to be the state of entry or the state of the principal 
 office in the United States. 

    HIST: 1967 c 395 art 12 s 35; 1978 c 674 s 60; 1986 c 444 

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