Michigan Compiled Laws 218-1956-14 Chapter 14 Managing General Agents (500.1400...500.1450)

• Section 500.1400 Repealed. 1972, Act 133, Eff. Mar. 30, 1973.
  Compiler's Notes: The repealed section pertained to application of chapter as to agents, solicitors, adjustors, and counselors.Popular Name: Act 218
• Section 500.1401 Definitions.
  As used in this chapter: (a) “Actuary” means a person who is a member in good standing of the American academy of actuaries. (b)...
• Section 500.1402 Repealed. 1972, Act 133, Eff. Mar. 30, 1973.
  Compiler's Notes: The repealed section pertained to definition of general, district, state, or special agent.Popular Name: Act 218
• Section 500.1403 Persons Not Considered Managing General Agents.
  For the purposes of the chapter, the following persons are not considered managing general agents: (a) An employee of the insurer. (b) A United...
• Section 500.1404 Repealed. 1972, Act 133, Eff. Mar. 30, 1973.
  Compiler's Notes: The repealed section pertained to resident agents, definition, and licenses.Popular Name: Act 218
• Section 500.1405 Licensing.
  (1) A person shall not act in the capacity of a managing general agent with respect to risks located in this state for an...
• Section 500.1407 Bond; Errors And Omissions Policy.
  The commissioner may require a managing general agent to do both of the following: (a) Maintain a bond in an amount acceptable to the...
• Section 500.1408 Repealed. 1972, Act 133, Eff. Mar. 30, 1973.
  Compiler's Notes: The repealed section pertained to definition of solicitor.Popular Name: Act 218
• Section 500.1409 Contract Between Managing General Agent And Insurer; Required Provisions.
  No person acting in the capacity of a managing general agent shall place business with an insurer unless there is a written contract between...
• Section 500.1411 Insurer; Duties.
  An insurer shall comply with all of the following: (a) Have on file an independent financial examination, in a form acceptable to the commissioner,...
• Section 500.1412 Repealed. 1972, Act 133, Eff. Mar. 30, 1973.
  Compiler's Notes: The repealed section pertained to license requirement and employment of insurance agent.Popular Name: Act 218
• Section 500.1413 Acts Of Managing General Agent Deemed Acts Of Insurer; Examination.
  The acts of the managing general agent are considered to be the acts of the insurer on whose behalf it is acting. A managing...
• Section 500.1414 Repealed. 1972, Act 133, Eff. Mar. 30, 1973.
  Compiler's Notes: The repealed section pertained to license requirement of clerical help.Popular Name: Act 218
• Section 500.1415 Violation; Penalties; Judicial Review; Rights Of Policyholders, Claimants, And Auditors.
  (1) If the commissioner finds after a hearing conducted in accordance with the administrative procedures act of 1969, Act No. 306 of the Public...
• Section 500.1416 Repealed. 1972, Act 133, Eff. Mar. 30, 1973.
  Compiler's Notes: The repealed section pertained to requisition of agent's license by insurer.Popular Name: Act 218
• Section 500.1417 Rules And Regulations.
  The commissioner may adopt reasonable rules and regulations for the implementation and administration of the provisions of this chapter. History: Add. 1990, Act 350,...
• Section 500.1419 Effective Date Of Chapter.
  This chapter shall take effect on June 1, 1991. An insurer shall not use the services of a managing general agent on and after...
• Section 500.1420-500.1450 Repealed. 1972, Act 133, Eff. Mar. 30, 1973.
  Compiler's Notes: The repealed sections pertained to agents and solicitors.Popular Name: Act 218

Last modified: October 10, 2016