MN HF3146

Modifies continuing education requirements for life insurance licensees, requiring 24 credit hours per licensing period with no more than half from insurance company-sponsored courses; courses by bona fide insurance trade associations exempt from company affiliation restrictions.

Establishes qualified financial contract protections allowing insurers to exercise contractual rights including termination, liquidation, and netting agreements during insolvency proceedings, with specific provisions for counterparty obligations and receiver duties.

Amends life insurance policy valuation standards to permit use of 2001 CSO Preferred Class Structure Mortality Tables for policies issued on or after January 1, 2007, subject to commissioner approval and specific reserve credit conditions.

Creates risk-based capital reporting requirements for fraternal benefit societies, establishing fraternal action level and authorized control level events that trigger corrective action plans and regulatory intervention.

Modifies group life insurance delivery requirements to allow electronic delivery of course completion certificates to the department or designated licensing contractor instead of requiring written certificates.