2005 Minnesota Statutes - 68A.04 — Definition of direct risk premiums.

     68A.04 Definition of direct risk premiums. 


    For purposes of this chapter, "direct risk premiums" means 
 the charge for title insurance made by a title insurance company 
 or its agents according to the company's rate filing approved by 
 the commissioner of commerce without a deduction for commissions 
 paid to or retained by the agent and is that portion of the fee 
 charged by a title insurance company to an insured or an 
 applicant for insurance for the assumption by the title 
 insurance company of the risk created by the issuance of the 
 title insurance policy.  Direct risk premiums of a title 
 insurance company do not include any other charge or fee for 
 abstracting, searching, or examining the title, or for escrow, 
 closing, or other related services. 


    HIST: 2004 c 227 s 3