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Code · Minnesota · Chapter 80

80A.91 AGENT ERRORS AND OMISSIONS INSURANCE; CHOICE OF SOURCE.

92 words·~1 min read·/mn/chapter-80/80a-91

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80A.91 AGENT ERRORS AND OMISSIONS INSURANCE; CHOICE OF SOURCE.
A broker-dealer shall not require an agent to maintain insurance coverage for the agent's errors and omissions from a specific insurance company. This section does not apply if the agent is an employee of that broker-dealer, or if the broker-dealer or affiliated insurance company contributes to the premiums for the errors and omissions coverage. Nothing in this section shall prohibit a broker-dealer from requiring an agent to maintain errors and omissions coverage or requiring that the errors and omissions coverage meet certain criteria.
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