Michigan Compiled Laws § 500.2204 Settlement Of Action Brought By Third Party Against Person Insured Under Commercial Liability Insurance Policy; Notice To Insured Required.

500.2204 Settlement of action brought by third party against person insured under commercial liability insurance policy; notice to insured required.

Sec. 2204.

Prior to a trial, an insurer shall not settle an action brought by a third party against a person insured under a commercial liability insurance policy issued by the insurer, unless the insurer gives the insured notice of the settlement at least 10 days prior to the settlement. As used in this section, “commercial liability insurance” means insurance which provides indemnification for commercial, industrial, professional, or business liabilities.

History: Add. 1986, Act 173, Imd. Eff. July 7, 1986
Popular Name: Act 218

Section: 500.2204  500.2205  500.2206  500.2207  500.2209  500.2210  500.2210a  500.2211  500.2212  500.2212a  500.2212b  500.2212c  500.2213  500.2213a  500.2213b  Next

Last modified: October 10, 2016