Michigan Compiled Laws 218-1956-12 Chapter 12 Agents, Solicitors, Adjusters, And Counselors (500.1200...500.1247)

• Section 500.1200 “good Moral Character” Defined.
  As used in this chapter, “good moral character” means good moral character as defined and determined under Act No. 381 of the Public Acts...
• Section 500.1201 Definitions.
  As used in this chapter: (a) "Agent" except as provided in section 1243 means an insurance producer. (b) "Business entity" means a corporation, association,...
• Section 500.1201a Sale, Solicitation, Or Negotiation Of Insurance; License Required; Applicability To Excess And Surplus Lines Agents And Brokers.
  (1) A person shall not sell, solicit, or negotiate insurance in this state for any line of insurance unless the person is licensed for...
• Section 500.1202 Insurance Producer License; "Motor Vehicle" And "Travel Insurance" Defined.
  (1) This chapter shall not be construed to require an insurer to obtain an insurance producer license. As used in this section, the term...
• Section 500.1203 Authority Of Insurance Producer For Fraternal Benefit Society; Authority Of Attorney-in-fact Of Reciprocal Or Inter-insurance Exchange.
  (1) A person may act as an insurance producer only for a fraternal benefit society authorized to transact insurance in this state without being...
• Section 500.1204 Applicant For Insurance Producer License; Examination; Registered Program Of Study; Waiver Of Examination Or Program Of Study Requirements; Administration Of Examinations; Fee; Reapplication.
  (1) A resident individual applying for an insurance producer license shall pass a written examination unless exempt pursuant to section 1206b. (2) Within a...
• Section 500.1204a Qualification As Registered Insurance Agent Program Of Study; Criteria; Conducting Portion Of Minimum Number Of Classroom Hours Of Instruction; Rules; Recommendations For Improvements In Course Materials; Failure To Maintain Reasonable Standards.
  (1) To qualify as a registered insurance agent program of study, the program of study shall meet all of the following criteria: (a) Be...
• Section 500.1204b Insurance Agent Education Advisory Council; Creation; Appointment, Qualifications, And Terms Of Members; Meetings; Reimbursement Of Expenses; Duties Of Council; Access To Classroom.
  (1) An insurance agent education advisory council is created within the department of labor and economic growth. The commissioner shall appoint the members of...
• Section 500.1204c Definitions; Insurance Producer's Hours Of Study; Review; Continuing Education Requirements; Program Of Study; Approval; Hearing; Revocation; Filing Certificate Of Attendance Or Instruction; Waiver; Reciprocal Agreements; Fees; Sale Of Business And Failure To Meet Continuing Education Requirements; Cancellation Of License.
  (1) As used in this section: (a) "Hour" means a period of time of not less than 50 minutes. (b) "Insurance producer" means a...
• Section 500.1204d Continuing Education Fund; Creation; Administration; Disposition And Reversion Of Funds; Funding Of Shortfall.
  (1) The continuing education fund is created as a separate, self-supporting fund and shall be administered by the commissioner. Money in the continuing education...
• Section 500.1204e Nonresident License Applicant; Requirements.
  (1) The commissioner shall waive any requirements for a nonresident license applicant with a valid license from his or her home state, except the...
• Section 500.1204f Sale, Solicitation, Or Negotiation Of Long-term Care Insurance; Program Of Instruction Required.
  500.1204f Sale, solicitation, or negotiation of long-term care insurance; program of instruction required.Sec. 1204f. (1) Each insurer that sells, solicits, or negotiates long-term care insurance...
• Section 500.1204f. Amended Long-term Care Insurance; Requirements For Sale, Solicitation, Or Negotiation By Individual; Delivery Or Issuance By Insurer; 1-time Training Course; Requirements.
  500.1204f.amended Long-term care insurance; requirements for sale, solicitation, or negotiation by individual; delivery or issuance by insurer; 1-time training course; requirements.Sec. 1204f. (1) An individual...
• Section 500.1205 Resident Insurance Producer License; Filing; Application; Statement; Requirements; Business Entity; Verification Of Information; Limited Line Credit Insurance.
  (1) A person applying for a resident insurance producer license shall file with the commissioner the uniform application required by the commissioner and shall...
• Section 500.1206 Insurance Producer License; Issuance; Qualification In Line Of Insurance; Duration; Reinstatement; Contents Of License; Change Of Name Or Address; Ministerial Functions.
  (1) Unless denied licensure under section 1239, persons who have met the requirements of sections 1204 and 1205 shall be issued an insurance producer...
• Section 500.1206a Nonresident Insurance Producer License; Requirements; Verification Of Status; Change Of Address; Nonresident Surplus Lines Insurance Producer License; Nonresident Limited Lines Insurance Producer.
  (1) Unless denied licensure under section 1239, a nonresident person shall receive a nonresident insurance producer license if he or she meets all of...
• Section 500.1206b Nonresident Insurance Producer License; Prelicensing Education Or Examination; Exemption; Application As Resident Licensee.
  (1) An individual who applies for an insurance producer license in this state who was previously licensed for the same qualifications in another state...
• Section 500.1206c Life And Health Insurance Producer Examinations; Summary Of Statistical Information; Report.
  By not later than 6 months after the effective date of this section and by April 30 of each year thereafter, the commissioner or...
• Section 500.1207 Agent As Fiduciary; Accounting Methods; Examination Of Records; Remuneration Of Person Acting As Agent; Placing Refused Coverage; Use Of Intimidation, Threats, Or Unlawful Inducements; Agent As Party To Contract.
  (1) An agent shall be a fiduciary for all money received or held by the agent in his or her capacity as an agent....
• Section 500.1208 Insurance Effected By Agent On Certain Risks; Limitation.
  An agent, during any 12-month period, may not effect insurance upon his own property, life or other risk and the property, life or other...
• Section 500.1208a Appointment Of Producer As Agent; Notice Of Appointment; Filing; Verification Of Eligibility; Fee.
  (1) An insurance producer shall not act as an agent of an insurer unless the insurance producer becomes an appointed agent of that insurer....
• Section 500.1208b Termination Of Business Relationship With Insurance Producer; Notice To Commissioner; Format; Liability For Disclosure Of Information Or Statement.
  (1) An insurer or authorized representative of the insurer that terminates the appointment, employment, contract, or other insurance business relationship with an insurance producer...
• Section 500.1209 Termination Of Insurance Producer's Authority To Represent Insurer; Responsibility And Authority Of Insurance Producer Following Notice Of Termination; Exceptions; Condition Of Insurer's Authority To Transact Business In State; Construction Of Subsection (2); “automobile Insurance” And “home Insurance” Defined.
  (1) If an insurance producer's authority to represent an insurer is terminated, the responsibility of an insurance producer having property rights in the renewal...
• Section 500.1210 Accident And Health Insurance Agent As Health Benefit Agent.
  An accident and health insurance agent who is a health benefit agent pursuant to the health benefit agent act shall be subject to the...
• Section 500.1211 Solicitation And Collection On Behalf Of Licensed Insurance Producer; Authorization; Contract.
  A natural person may solicit applications for insurance and collect premiums on behalf of a licensed insurance producer resident in this state if he...
• Section 500.1211a Assumed Name; Use.
  An insurance producer doing business under any name other than the producer's legal name shall notify the commissioner prior to using the assumed name....
• Section 500.1211b Temporary License.
  (1) The commissioner may issue a temporary insurance producer license for a period not to exceed 180 days without requiring an examination if the...
• Section 500.1212 Persons Acting As Solicitors; Contract With Agent; License; Notice Of Appointment.
  (1) An agent may not appoint, employ or in any manner receive the benefit of business done or services rendered in this state by...
• Section 500.1214 Solicitor; Application For License And Notice Of Appointment; Forms; Examination Required; Program Of Study As Condition To Examination; Waiver Of Examination Or Program Of Study; Investigations And Interrogatories; Decision; Issuance Of License; Qualifications; Disclosures; Acting On Behalf Of Sponsoring Agent; Contents Of License; Person Licensed As Solicitor For Casualty Insurance Permitted To Act As Solicitor For Legal Expense Insurance; Duration And Surrender Of License; Reexamination; Notice.
  (1) An application for a license to act as a solicitor shall be made to the commissioner and shall be accompanied by a notice...
• Section 500.1216 Solicitor As Fiduciary; Accounting Methods; Examination Of Records; Remuneration Of Person Acting As Agent Or Solicitor.
  (1) A solicitor shall be a fiduciary for all moneys received or held by him in his capacity as a solicitor. Failure by a...
• Section 500.1218 Termination Of Solicitor's Authority To Represent Agent; Notice; Disclosure; Liability Of Agent.
  An agent shall immediately notify the commissioner of the termination of a solicitor's authority to represent the agent. The notice shall include full disclosure,...
• Section 500.1222 Adjuster's License Required; Exemptions.
  (1) A person shall not adjust loss or damage under a policy of insurance or advertise, solicit business, or hold himself or herself out...
• Section 500.1224 Adjuster; Application For License; Forms; Examination; Investigations And Interrogatories; Waiver; Decision; Issuance Of License; Qualifications; Additional Restrictions; Licenses To Certain Persons Prohibited; "Home State" Defined.
  (1) An application for a license to act as an adjuster shall be made to the commissioner on forms prescribed by the commissioner. (2)...
• Section 500.1226 Persons Aiding Adjuster; Representation By Adjuster; Procedure For Soliciting Loss; Schedule Of Rates; Limitation On Charges; Contract.
  (1) An adjuster for an insured shall not employ a person to aid, directly or indirectly, in soliciting or adjusting a loss and shall...
• Section 500.1227 Conduct Of Adjuster; Prohibitions.
  (1) An adjuster for an insured shall not solicit or attempt to solicit a loss during progress of a loss-producing occurrence nor while the...
• Section 500.1228 Records Of Adjuster.
  (1) An adjuster for an insured shall maintain a complete record of each of his transactions as an adjuster for the insured. The record...
• Section 500.1232 Insurance Counselor; License Required; Use Of Designation “certified Insurance Counselor” Or “fraternal Insurance Counselor”; Exceptions.
  A person shall not audit or abstract policies of insurance or annuities, provide advice, counsel, or opinion with respect to benefits promised, coverage afforded,...
• Section 500.1234 Insurance Counselor; Application For License; Forms; Examination; Investigations And Interrogatories; Decision; Issuance Of License; Qualifications.
  (1) An application for a license to act as an insurance counselor shall be made to the commissioner on forms prescribed by the commissioner....
• Section 500.1236 Written Agreement Between Insurance Counselor And Client.
  In advance of rendering any service set forth in section 1232, a written agreement shall be prepared by a counselor, and shall be signed...
• Section 500.1238 Reporting Mailing And Electronic Mail Address Of Agent, Solicitor, Counselor, Or Adjuster; Notice Of Change In Address; Maintaining Address On File; Mailing Of Notice Of Hearing Or Process.
  (1) When applying for a license to act as an agent, solicitor, counselor, or adjuster, the applicant shall report his or her mailing and...
• Section 500.1239 Probation, Suspension, Or Revocation Of Insurance Producer's License; Refusal To Reissue; Causes; Civil Fine; Notice Of License Denial; Hearing; License Of Business Entity; Penalties And Remedies.
  (1) In addition to any other powers under this act, the commissioner may place on probation, suspend, or revoke an insurance producer's license or...
• Section 500.1240 Payment Or Acceptance Of Commission, Service Fee, Or Valuable Consideration.
  (1) An insurer or insurance producer shall not pay a commission, service fee, or other valuable consideration to a person for selling, soliciting, or...
• Section 500.1242 Refusal, Suspension, Or Revocation Of License; Notice; Hearings; Summary Suspension; Subpoenas.
  (1) The commissioner shall refuse to grant a license to act as a solicitor, an insurance counselor, or an adjuster to an applicant who...
• Section 500.1243 Definitions; Sale Of Insurance By Lender.
  (1) As used in this section: (a) “Act” means the insurance code of 1956, 1956 PA 218, MCL 500.100 to 500.8302. (b) “Affiliate” means...
• Section 500.1244 Violation Of Chapter; Hearing; Serving Copy Of Findings And Cease And Desist Order; Additional Orders; Reopening, Altering, Modifying, Or Setting Aside Order; Violation Of Cease And Desist Order; Notice And Hearing; Civil Fine; Suspension Or Revocation Of License; Disposition Of Fine.
  (1) If the commissioner finds that a person has violated this chapter, after an opportunity for a hearing pursuant to the administrative procedures act...
• Section 500.1246 Confidentiality; Use Of Documents, Materials, Or Other Information.
  (1) Any documents, materials, or other information in the control or possession of the office of financial and insurance services that is furnished by...
• Section 500.1247 Report Of Administrative Action.
  (1) An insurance producer shall report to the commissioner any administrative action taken against the insurance producer in another jurisdiction or by another governmental...

Last modified: October 10, 2016