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Minn. Stat. § 60C.18

RECOGNITION OF ASSESSMENTS IN RATES.

Applied in 2 court decisions — leading case Seehus v. Bor-Son Construction, Inc. (2010)

Most recently applied in Seehus v. Bor-Son Construction, Inc. (June 2010)

1971 c 145 s 18; 1976 c 185 s 8; 1988 c 541 s 11; 2003 c 74 s 9

Subdivision 1. Recognition required.

The rates and premiums charged for insurance policies and fidelity and surety bonds to which this chapter applies may include amounts sufficient to recoup a sum equal to the amounts paid to the association by the member insurer less any amounts returned to the member insurer by the association. The rates shall not be deemed excessive because they contain an amount reasonably calculated to recoup assessments paid by the member insurer.

Subd. 2.

[Repealed, 2003 c 74 s 11 ]

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.