Michigan Compiled Laws § 500.1407 Bond; Errors And Omissions Policy.

500.1407 Bond; errors and omissions policy.

Sec. 1407.

The commissioner may require a managing general agent to do both of the following:

(a) Maintain a bond in an amount acceptable to the commissioner for the protection of the insurer.

(b) Maintain an errors and omissions policy.

History: Add. 1990, Act 350, Eff. June 1, 1991
Popular Name: Act 218

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Last modified: October 10, 2016