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2017 Michigan Compiled Laws
Chapter 500 - Insurance Code of 1956
Act 218 of 1956 THE INSURANCE CODE OF 1956 (500.100 - 500.8302)
218-1956-12 CHAPTER 12 AGENTS, SOLICITORS, ADJUSTERS, AND COUNSELORS (500.1200...500.1247)
Section 500.1208 Insurance effected by agent on certain risks; limitation.
Universal Citation: MI Comp L § 500.1208 (2017)
500.1208 Insurance effected by agent on certain risks; limitation.
Sec. 1208.
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 risk of his employees, employer or business associates, in excess of 15% of the total premium which he effected during that period.
History: Add. 1972, Act 133, Eff. Mar. 30, 1973
Popular Name: Act 218
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