{"data":{"id":"us-mn/minn.-stat.-61a.21","jurisdiction":"us-mn","citation":"Minn. Stat. § 61A.21","heading":"APPLICATION OF OTHER LAWS.","body":"Sections 61A.07, clause (4), and 61A.245 shall not apply to contracts on a variable basis. All other appropriate provisions of this chapter shall apply to separate accounts and contracts on a variable basis except those which are inconsistent with the provisions contained in sections 61A.13 to 61A.20. Any contract on a variable basis, delivered or issued for delivery in this state, shall contain in substance provisions for grace, settlement option, loan or withdrawal and nonforfeiture appropriate to such a contract and a life insurance contract on a variable basis should also contain in substance a provision for reinstatement appropriate to such a contract. The reserve liability for contracts on a variable basis shall be established in accordance with actuarial procedures that recognize the variable nature of the benefits provided and any mortality guarantees.","path":["INSURANCE","CHAPTER 61A. LIFE INSURANCE","CONTRACTS -- VARIABLE BASIS"],"source_url":"https://www.revisor.mn.gov/statutes/cite/61A.21","current_through":"2025 Minnesota Statutes","vintage":"","retrieved_at":"2026-09-02T22:10:28Z","sha256":"4ab5e8287adba029cc0530278bd3733cd460320ee336ab00fcbb6cfc7ffc279f","source_id":"us-mn","stale":false,"prev":"us-mn/minn.-stat.-61a.20","next":"us-mn/minn.-stat.-61a.22"},"notice":"GroundRules: Original legal text. Not legal advice."}