Minn. Stat. » CHAPTER 61B. LIFE AND HEALTH GUARANTY ASSOCIATION
Minnesota Statutes

Minn. Stat. § 61B.03 (2026)

[Repealed]

✓ current as of May 2026
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[Repealed, 1993 c 319 s 20]

Notes of Decisions
Cited in 9 cases, 1987–1998 · leading case: Honeywell, Inc. v. Minnesota Life & Health Ins. Guar. Ass'n, 518 N.W.2d 557 (Minn. 1994).
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Honeywell, Inc. v. Minnesota Life & Health Ins. Guar. Ass'n, 518 N.W.2d 557 (Minn. 1994). · cites it 14× “540 § 5(c), codified at Minn.Stat. § 61B.03, subd. 5(c) (1992), clarify the Association’s coverage obligations under the Act or effect a substantive change in those obligations? 2.”
Minnesota Life & Health Ins. Guar. Ass'n v. Dep't of Com., 400 N.W.2d 769 (Minn. Ct. App. 1987). · cites it 10× “The Association contends that the Commissioner erred in: (1) broadly defining annuity contract under Minn.Stat. § 61B.03, subd. 3 (1984); (2) determining unallocated annuities are contracts “supplemental to” annuity contracts under Minn.”
Arizona Life & Disability Ins. Guar. Fund v. Honeywell, Inc., 945 P.2d 805 (Ariz. 1997). · cites it 2× “[7] Minnesota's definition of "annuity contracts" was provided in Minn.Stat. § 61B.03, subd. 3 (1984): "`Annuity contracts' means contracts subject to Chapter 61A wherein the policyowner agrees to make payments to the insurer at the beginning of the contract period and the…”
Honeywell, Inc. v. Minnesota Life & Health Ins. Guar., 110 F.3d 547 (8th Cir. 1997). · cites it 8× “at 775 (holding that GICs are covered annuities under Minn. Stat. § 61B.03, subd. 3 (1984)). The Honeywell GICs expressly name the Honeywell trustee 2 This Act has been repealed and was replaced in 1993 with Minn.”
Texas Com. Bank v. Garamendi, 92 Cal. Daily Op. Serv. 9744 (Cal. Ct. App. 1992). “(1) and 703 (1990); Minn. Stat. Ann. § 61B.03, subd. (3) (West 1990); Mo.”
UNISYS Corp. v. Pennsylvania Life & Health Ins. Guar. Ass'n, 667 A.2d 1199 (Pa. Commw. Ct. 1995). “1987) (the Minnesota Court of Appeals determined that Executive Life’s contracts were “annuity contracts” under Minn.Stat. § 61B.03(3)). In the present controversy, the Contracts satisfy the definition of an “annuity Contract.”
Liberty State Bank, a Minnesota Banking Corp. v. Minnesota Life & Health Ins. Guar. Ass'n Minnesota Comm'r of Com., 149 F.3d 832 (8th Cir. 1998). “See Minn.Stat. § 61B.03, subd. 5(d) (1992). Relying on the amendment, the Minnesota Commissioner of Commerce upheld the Association’s denial in a final agency decision.”
Honeywell, Inc. v. Minnesota Life & Health Ins. Guar. Ass'n, 86 F.3d 766 (8th Cir. 1996). · cites it 3× “In 1991, ELIC became insolvent and unable to fulfill its contractual obligations on the Honeywell GICs, which amounted to $111,000,000.”
Liberty State Bank v. MN Life & Health (8th Cir. 1998). “See Minn. Stat. § 61B.03, subd. 5(d) (1992). Relying on the amendment, the Minnesota Commissioner of Commerce upheld the Association’s denial in a final agency decision.”
— Minn. Stat. § 61B.03(3) — 1 case
UNISYS Corp. v. Pennsylvania Life & Health Ins. Guar. Ass'n, 667 A.2d 1199 (Pa. Commw. Ct. 1995). “1987) (the Minnesota Court of Appeals determined that Executive Life’s contracts were “annuity contracts” under Minn.Stat. § 61B.03(3)). In the present controversy, the Contracts satisfy the definition of an “annuity Contract.”
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