Periodic Indemnity Payable - Mich. Comp. Laws Section 550.606
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Michigan Laws > General Insurance Laws > Periodic Indemnity Payable - Mich. Comp. Laws Section 550.606
550.606 Periodic indemnity payable.
Sec. 6.
The amount of periodic indemnity payable by credit accident and health insurance in the event of disability, as defined in the policy, shall not exceed the aggregate of the periodic scheduled unpaid installments of indebtedness and shall not exceed the original indebtedness divided by the number of periodic installments.
History: 1958, Act 173, Eff. Sept. 13, 1958
Compiler's Notes: For transfer of authority, powers, duties, functions, and responsibilities of the insurance bureau and the commissioner of insurance to the commissioner of the office of financial and insurance services and the office of financial and insurance services, see E.R.O. No. 2000-2, compiled at MCL 445.2003 of the Michigan compiled laws.
Section: 550.527 550.528 550.601 550.602 550.603 550.604 550.605 550.606 550.607 550.608 550.609 550.610 550.611 550.612 550.613
Last modified: March 17, 2013
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