Minnesota Administrative Rules
Agency 120 - Commerce Department
Chapter 2795 - INSURANCE AGENTS
Part 2795.1300 - RECEIPT OF CLIENT FUNDS
Universal Citation: MN Rules 2795.1300
Current through Register Vol. 49, No. 13, September 23, 2024
An agent who receives funds from a client in connection with an insurance transaction receives and holds those funds in a fiduciary capacity.
An agent holding funds of a client must, each month, provide to the client an itemized statement showing the amount of money held.
Statutory Authority: MS s 60A.17
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