Minnesota Administrative Rules
Agency 120 - Commerce Department
Chapter 2770 - AUTOMOBILE INSURANCE
AUTO SELF-INSURANCE
Part 2770.6500 - AUTHORIZATION STANDARDS
Current through Register Vol. 49, No. 13, September 23, 2024
Subpart 1. Political subdivisions.
The commissioner shall grant self-insurance authority to an applicant that is a political subdivision if it satisfies these conditions:
A political subdivision that has satisfied the foregoing conditions is not required to satisfy the security requirement of part 2770.6800.
Subp. 2. All other applicants.
The commissioner shall grant self-insurance authority to an applicant that is not a political subdivision if the following conditions are satisfied:
Notwithstanding the conditions under items A to C, the commissioner may grant self-insurance authority to an applicant that is not a political subdivision and that has not had positive working capital in at least three years of the last five-year period if the working capital, debt structure, profitability, and overall financial integrity of the applicant and its parent company, if one exists, demonstrate a continuing ability of the applicant to satisfy any financial obligations that have been and might be incurred under the no-fault act.
Statutory Authority: MS s 65B.48