Minnesota Insurance Guarantee Association board can request financial information from insureds.
This bill allows the board of directors of the Minnesota Insurance Guarantee Association to request financial information from insureds. The board may request financial information to determine an insured's net worth. If an insured fails to provide the requested information within 60 days, the board must inform the insured of the consequences. The bill amends Minnesota Statutes 2024, section 60C.09, subdivision 2.
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