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Code · Minnesota · Chapter 61

61A.16 CONTRACT PROVISIONS.

99 words·~1 min read·/mn/chapter-61/61a-16

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61A.16 CONTRACT PROVISIONS.
Any contract on a variable basis providing benefits payable in variable amounts delivered or issued for delivery in this state shall contain a statement of the essential features of the procedures to be followed by the insurance company in determining the dollar amount of such variable benefits. Any such contract, including a group contract and any certificate in evidence of variable benefits issued thereunder, shall state the manner in which such dollar amounts will vary and shall contain on its first page a statement to the effect that the benefits thereunder are on a variable basis.
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