Minn. R. agency 120, ch. 2795, pt. 2795.1300
Current through Register Vol. 49, No. 25, December 16, 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.
Minn. R. agency 120, ch. 2795, pt. 2795.1300
Statutory Authority: MS s 60A.17