Each policy, cover note, or instrument evidencing nonadmitted insurance from an eligible surplus lines insurer which is delivered to an insured or a representative of an insured shall have printed, typed, or stamped upon its face in not less than 10 point type, the following notice: "THIS INSURANCE IS ISSUED PURSUANT TO THE MINNESOTA SURPLUS LINES INSURANCE ACT. THE INSURER IS AN ELIGIBLE SURPLUS LINES INSURER BUT IS NOT OTHERWISE LICENSED BY THE STATE OF MINNESOTA. IN CASE OF INSOLVENCY, PAYMENT OF CLAIMS IS NOT GUARANTEED." This notice shall not be covered or concealed in any manner.
Minn. Stat. § 60A.207
POLICIES TO INCLUDE NOTICE.
Known as the Minnesota Surplus Lines Insurance Act
The act spans §§ 60–60 (17 sections).
Applied in 2 court decisions — leading case Farmers & Merchants State Bank of Pierz v. Bosshart (1987)
Most recently applied in St. Michel v. Burns and Wilcox, Ltd. (December 1988)
1981 c 221 s 12; 2006 c 204 s 5; 2011 c 108 s 22
Official source: Minnesota Office of the Revisor of Statutes. Reproduced from public-domain Minnesota statutes; confirm against the official source for the current text. Not legal advice.