2005 Minnesota Statutes - 62B.12 — Rulemaking.

     62B.12 Rulemaking. 


    The commissioner may, after notice and hearing, issue rules 
 the commissioner deems appropriate for the supervision of 
 sections 62B.01 to 62B.14.  The commissioner shall promulgate 
 rules to establish rates for credit involuntary unemployment 
 insurance prior to its issuance, and to enact the other 
 provisions of Laws 1993, chapter 343, and the commissioner shall 
 report by February 15, 1994, to the house of representatives 
 Committee on Financial Institutions and Insurance and to the 
 senate Commerce and Consumer Protection Committee on the rules 
 or status of the rulemaking, including the expected loss ratio.  
 The commissioner is not obligated to promulgate a rule unless 
 and until four or more insurers who plan to write credit 
 involuntary unemployment insurance in Minnesota agree to pay for 
 the cost of the promulgation of any rules authorized by this 
 section.  Companies selling credit involuntary unemployment 
 insurance shall be assessed by the department to pay the costs 
 of rulemaking. 


    Moneys collected pursuant to this provision must be 
 deposited in the state treasury and credited to a special 
 account and are appropriated to the commissioner for the 
 rulemaking purposes authorized by this section. 


    For the purposes of chapter 62B, any insurer authorized to 
 offer the coverage specified by section 60A.06, subdivision 1, 
 clause (1) or (4), shall be authorized to sell credit 
 involuntary unemployment insurance pursuant to this chapter. 


    HIST: Ex1967 c 2 s 12; 1985 c 248 s 70; 1986 c 444; 1993 c 343 
 s 25; 1994 c 425 s 11