§ 70A.13 — Operation and Control of Rate Service Organizations
Plain-Language Summary
This section requires rate service organizations to get a license before they can help set insurance rates in Minnesota. No insurer can use an unlicensed rate service organization. Licensed organizations must offer their services fairly to any authorized insurer willing to pay a reasonable fee.
70A.13 OPERATION AND CONTROL OF RATE SERVICE ORGANIZATIONS.
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Subdivision 1.License required.
No rate service organization shall provide any service relating to the rates of any insurance subject to this chapter, and no insurer shall employ the services of such organization for such purposes unless the organization has obtained a license under section 70A.14. §
Subd. 2.Availability of services.
Every rate service organization shall supply without discrimination any services for which it is licensed in this state to any insurer authorized to do business in this state and offering to pay the fair and usual compensation for the services.
History:
History: History:
1969 c 958 s 13