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2006 Michigan Compiled Laws - CHAPTER 4 AUTHORIZATION OF INSURERS AND GENERAL REQUIREMENTS (500.402...500.480)

THE INSURANCE CODE OF 1956 (EXCERPT)
Act 218 of 1956
Chapter 4
AUTHORIZATION OF INSURERS AND GENERAL REQUIREMENTS

DocumentDescription
Section 500.402Insurers; certificate of authority requirement.
Section 500.402aTransactions of insurance requiring certificate of authority.
Section 500.402bTransactions of insurance not requiring certificate of authority.
Section 500.402cMotor vehicle rental company; insurance transaction; definitions.
Section 500.403Insurers; authorization to do business.
Section 500.404Insurers; financial conditions; compliance required.
Section 500.405Foreign insurer; revocation of certificate of authority; conditions; requalification for certificate of authority if control acquired; determination.
Section 500.405aInsurer subject to delinquency proceedings; revocation of certificate of authority; conditions.
Section 500.405bRequalification pursuant to §§ 500.405 or 500.405a; formal review.
Section 500.406Foreign insurer; limitation on corporate purposes and powers; election of statute; denial of admission or authority; continuation of license to transact insurance business previously authorized; exception.
Section 500.407Authorization to transact kinds of insurance; exceptions.
Section 500.407aNoninsured benefit plan; offering and writing excess loss insurance; definition; authority of insurer not limited.
Section 500.408Insurers; capital, surplus, or asset requirement; schedule; multiple lines; provisions for transacting certain insurance; applicability of section; compliance with § 500.403.
Section 500.410Minimum amount of unimpaired capital and surplus; minimum amount and use of additional surplus; transacting life insurance or property insurance; continuing to transact insurance; transacting legal expense insurance; compliance with § 500.403.
Section 500.410aBail bond surety and fidelity insurance company; authority to transact insurance.
Section 500.411Deposits required to transact insurance.
Section 500.412Procedure for becoming domestic insurer.
Section 500.413Transfer of domicile of domestic insurer to another state; effect of transfer; approval of transfer; "U.S. branch" defined.
Section 500.414Certificate of authority, agent's appointments, licenses, rates, and other items of transferring insurer continue in full force and effect; outstanding policies remain in full force and effect; filing new or existing policy forms; notice of proposed transfer; filing amendments to corporate documents.
Section 500.415Rules.
Section 500.416Special deposit.
Section 500.417Repealed. 1966, Act 137, Eff. Mar. 10, 1967.
Section 500.418Identification of payers subject to child support arrearages; "title IV-D agency" defined.
Section 500.422Repealed. 1994, Act 226, Imd. Eff. June 27, 1994.
Section 500.424Admission of foreign or alien insurer to state; application; report of financial standing; issuance of certificate of authority; filing fees.
Section 500.425, 500.426Repealed. 1992, Act 182, Imd. Eff. Oct. 1, 1992.
Section 500.430Repealed. 1992, Act 182, Imd. Eff. Oct. 1, 1992.
Section 500.431Definitions.
Section 500.431aState of entry by alien insurer through U.S. branch; requirements.
Section 500.431bU.S. branch using state as state of entry to transact insurance; compliance.
Section 500.431cTrusteed assets; value.
Section 500.432Trust agreement and amendments; authentication; withdrawal of approval; form; hearing; modifications or variations; contents and provisions of trust agreement; withdrawal of trusteed assets in another state; notice; examination by commissioner; effect of refusal or neglect to comply with subsection (8); review.
Section 500.432aCertificate of authority to do business; issuance or amendment to U.S. branch; proof that insurer will not violate act or charter; noncompliance.
Section 500.433Trusteed assets below minimum required; proceeding against alien insurer.
Section 500.434Repealed. 1972, Act 360, Imd. Eff. Jan. 9, 1973.
Section 500.435Certificate of authority as evidence of authority to transact insurance; duration of certificate; certificate as property of state; prerequisites to termination of certificate.
Section 500.436Conditions for suspension, revocation, or limitation of certificate of authority.
Section 500.436aContinuing operation of insurer transacting insurance; standards; subscription to private rate organization not required; determination of financial condition; issuance of order by commissioner; hearing requested by insurer.
Section 500.436bCertificate of authority limited by order of commissioner.
Section 500.437Proceeding for suspension, revocation, or limitation of certificate of authority; notice; imposition of conditions in order of limitation.
Section 500.438Annual statement; filing; extensions; fee; format and contents; reply to inquiries; availability of reports to public; penalty for failure to file statement or reply to inquiry; statement of alien insurer; "U.S. branch" defined.
Section 500.438aDomestic, foreign, and alien insurers; filing annual statement with national association of insurance commissioners; foreign insurers considered in compliance with section; agents of commissioner; confidentiality of information.
Section 500.439Repealed. 1992, Act 182, Imd. Eff. Oct. 1, 1992.
Section 500.440Repealed. 1987, Act 261, Imd. Eff. Dec. 28, 1987.
Section 500.440aCredit against tax imposed by § 500.476a or fee imposed by § 500.476c; claim; refund; retroactive application.
Section 500.441, 500.442Repealed. 1987, Act 261, Imd. Eff. Dec. 28, 1987.
Section 500.443Foreign insurer; payment of quarterly installments of estimated tax; filing statement with revenue commissioner.
Section 500.444Collection of delinquent taxes with interest or penalty.
Section 500.445Delinquency as bar to granting certificate of authority.
Section 500.446Repealed. 1987, Act 261, Imd. Eff. Dec. 28, 1987.
Section 500.448, 500.449Repealed. 1975, Act 232, Eff. July 2, 1976.
Section 500.450Repealed. 1987, Act 261, Imd. Eff. Dec. 28, 1987.
Section 500.451Taxes on unauthorized insurers; regulatory fee; payment; delinquency.
Section 500.454Name of insurer.
Section 500.456Legal process served on resident agent effective as personal service on company, association, or group; stipulation; filing copy of appointment; fee; duration of appointment; service of process.
Section 500.457Repealed. 1992, Act 182, Imd. Eff. Oct. 1, 1992.
Section 500.460Licensed agent to write or place insurance policies.
Section 500.462Signature of licensed agent on application for life or disability insurance.
Section 500.464Additional deposits by domestic insurers.
Section 500.470Repealed. 1992, Act 182, Imd. Eff. Oct. 1, 1992.
Section 500.476Repealed. 1987, Act 261, Imd. Eff. Dec. 28, 1987.
Section 500.476aAlien or foreign insurers; deposit of securities or making certain payments; computation; revocation of certificate of authority; purpose of section; domestic insurer owned or controlled by alien or foreign insurer; domestic insurer as alien or foreign insurer; compliance; taxes subject to § 208.22d; administration of tax; disclosure of tax return.
Section 500.476bTaxes to which authorized insurer subject.
Section 500.476cRepealed. 1993, Act 200, Eff. Dec. 28, 1994.
Section 500.478NAIC report of activities.
Section 500.479Imposition of fee by NAIC.
Section 500.480Definitions.

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