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MN HF2891
Bill
Status
Introduced
3/15/2023
Primary Sponsor
Paul Torkelson
Click for details
AI Summary
- Establishes fees for automobile self-insurance applications: $2,500 nonrefundable initial application fee and $1,200 renewal fee for political subdivisions or $1,500 for nonpolitical entities every three years
- Requires self-insurance applicants to file proof of continuing undertaking to pay tort liabilities and basic economic loss benefits, evidence of claims administration capability, and reliable financial arrangements
- Prohibits the commissioner from canceling or denying self-insurance authority to cooperatives organized under chapter 308A or 308B that submit negative net funds flow statements, provided they maintain working capital equal to three times their self-insured retention amount
- Amends Minnesota Statutes 2022, section 65B.48, subdivision 3
Legislative Description
Automobile self-insurance governing provisions modified.
Last Action
Introduction and first reading, referred to Commerce Finance and Policy
3/15/2023
Committee Referrals
Commerce Finance & Policy3/15/2023
Full Bill Text
No bill text available