# Minn. Stat. § 60G.04: PROHIBITED ACTS DURING PERIOD OF SUPERVISION

> Minnesota · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_MN_P59A_79A_C60G_S60G.04

## Section

- **Citation:** Minn. Stat. § 60G.04
- **Heading:** PROHIBITED ACTS DURING PERIOD OF SUPERVISION
- **Jurisdiction:** Minnesota
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** MN Code / Part 59A_79A / Chapter 60G / Section 60G.04

## Text

During the period of supervision, the commissioner shall serve as the administrative supervisor. The commissioner may require that the insurer shall not do any of the following things during the period of supervision without the prior approval of the commissioner:

(1) dispose of, convey, or encumber its assets or its business in force;

(2) withdraw funds from its bank accounts;

(3) lend its funds;

(4) invest its funds;

(5) transfer its property;

(6) incur debt, obligation, or liability;

(7) merge or consolidate with another company;

(8) approve new premiums or renew policies;

(9) enter into a new reinsurance contract or treaty;

(10) terminate, surrender, forfeit, convert, or lapse an insurance policy, certificate, or contract, except for nonpayment of premiums due;

(11) release, pay, or refund premium deposits, accrued cash or loan values, unearned premiums, or other reserves on an insurance policy, certificate, or contract;

(12) make a material change in management; or

(13) increase salaries and benefits of officers or directors or make preferential payment of bonuses, dividends, or other payments determined preferential by the commissioner.

## Nearby sections

- [Minn. Stat. § 60G.01 § 60G.01 DEFINITIONS.](https://www.frixlaw.com/law-library/statutes/STATE_MN_P59A_79A_C60G_S60G.01.md)
- [Minn. Stat. § 60G.02 § 60G.02 NOTICE TO COMPLY WITH WRITTEN REQUIREMENTS OF COMMISSIONER; NONCOMPLIANCE; ADMINISTRATIVE SUPERVISION.](https://www.frixlaw.com/law-library/statutes/STATE_MN_P59A_79A_C60G_S60G.02.md)
- [Minn. Stat. § 60G.03 § 60G.03 CONFIDENTIALITY OF CERTAIN PROCEEDINGS AND RECORDS.](https://www.frixlaw.com/law-library/statutes/STATE_MN_P59A_79A_C60G_S60G.03.md)
- [Minn. Stat. § 60G.04 § 60G.04 PROHIBITED ACTS DURING PERIOD OF SUPERVISION.](https://www.frixlaw.com/law-library/statutes/STATE_MN_P59A_79A_C60G_S60G.04.md)
- [Minn. Stat. § 60G.05 § 60G.05 REVIEW AND STAY OF ACTION.](https://www.frixlaw.com/law-library/statutes/STATE_MN_P59A_79A_C60G_S60G.05.md)
- [Minn. Stat. § 60G.06 § 60G.06 ADMINISTRATIVE ELECTION OF PROCEEDINGS.](https://www.frixlaw.com/law-library/statutes/STATE_MN_P59A_79A_C60G_S60G.06.md)
- [Minn. Stat. § 60G.07 § 60G.07 RULES.](https://www.frixlaw.com/law-library/statutes/STATE_MN_P59A_79A_C60G_S60G.07.md)
- [Minn. Stat. § 60G.08 § 60G.08 IMMUNITY.](https://www.frixlaw.com/law-library/statutes/STATE_MN_P59A_79A_C60G_S60G.08.md)
- [Minn. Stat. § 60G.09 § 60G.09 APPLICATION.](https://www.frixlaw.com/law-library/statutes/STATE_MN_P59A_79A_C60G_S60G.09.md)
- [Minn. Stat. § 60G.20 § 60G.20 STANDARDS.](https://www.frixlaw.com/law-library/statutes/STATE_MN_P59A_79A_C60G_S60G.20.md)
- [Minn. Stat. § 60G.21 § 60G.21 COMMISSIONER'S ORDER.](https://www.frixlaw.com/law-library/statutes/STATE_MN_P59A_79A_C60G_S60G.21.md)
- [Minn. Stat. § 60G.22 § 60G.22 JUDICIAL REVIEW.](https://www.frixlaw.com/law-library/statutes/STATE_MN_P59A_79A_C60G_S60G.22.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_MN_P59A_79A_C60G_S60G.04. Check the current official text before relying on it. Not legal advice.