Sec. 454.
Except as otherwise provided in this section, an insurer shall not be authorized to do business in this state if its name is the same as or closely resembles the name of any other insurer organized under or authorized to do business under the laws of this state. However, an insurer may be authorized to do business in this state by adding to its corporate name a word, abbreviation, or other distinctive and distinguishing element. The certificate of authority issued to the insurer shall be issued in the name applied for, and the insurer shall use that name in all its dealings with the commissioner and in the conduct of its affairs in this state. Any document used or advertising offered in this state shall identify the incorporated name of the insurer. The commissioner may disapprove use of any name of an insurer if the commissioner determines that the name is deceptive or misleading.
History: 1956, Act 218, Eff. Jan. 1, 1957 ;-- Am. 1987, Act 168, Imd. Eff. Nov. 9, 1987
Popular Name: Act 218
Last modified: October 10, 2016