Minnesota Statutes 72A.16 – Mutual Companies
Current as of: 2023 | Check for updates
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Subdivision 1.Unlawful procurement or use of proxy.
Every officer or agent of a domestic mutual insurance company who shall solicit, receive, procure to be obtained, or use, a proxy vote in violation of any provision of law shall be guilty of a gross misdemeanor.
Subd. 2.Guaranty against assessment.
Attorney's Note
Under the Minnesota Statutes, punishments for crimes depend on the classification. In the case of this section:
Class Prison Fine Gross misdemeanor up to 1 year up to $3,000 Misdemeanor up to 90 days up to $1,000
For details, see § 609.02
Attorney's Note
Under the Minnesota Statutes, punishments for crimes depend on the classification. In the case of this section:| Class | Prison | Fine |
|---|---|---|
| Gross misdemeanor | up to 1 year | up to $3,000 |
| Misdemeanor | up to 90 days | up to $1,000 |
Every director, officer, or agent of an insurance company who officially or privately gives a guaranty to a policyholder thereof against an assessment for which the policyholder would otherwise be liable shall be guilty of a misdemeanor.