Section 70A.16 Joint Underwriting or Joint Reinsurance
70A.16 JOINT UNDERWRITING OR JOINT REINSURANCE.
Subdivision 1.Joint underwriting.
Every group, association, or other organization of insurers which engages in joint underwriting shall be subject to all the provisions of this chapter.
Subd. 2.Joint reinsurance.
Every group, association, or other organization of insurers which engages in joint reinsurance, shall be subject to the provisions of sections 70A.18 and 70A.20 to 70A.22.
Subd. 3.Unfair or unreasonable practice.
If, after a hearing, the commissioner finds that any activity or practice of any group, association or other organization referred to in subdivision 1 or 2 is unfair, unreasonable, or otherwise inconsistent with the provisions of this chapter, the commissioner shall issue a written order specifying in what respects that activity or practice is unfair, unreasonable or otherwise inconsistent with the provisions of this chapter, and requiring the discontinuance of the activity or practice.
History:
1969 c 958 s 16; 1986 c 444