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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)
218-1956-14 CHAPTER 14 MANAGING GENERAL AGENTS (500.1400...500.1450)
Section 500.1407 Bond; errors and omissions policy.
Universal Citation: MI Comp L § 500.1407 (2017)
500.1407 Bond; errors and omissions policy.
Sec. 1407.
The commissioner may require a managing general agent to do both of the following:
(a) Maintain a bond in an amount acceptable to the commissioner for the protection of the insurer.
(b) Maintain an errors and omissions policy.
History: Add. 1990, Act 350, Eff. June 1, 1991
Popular Name: Act 218
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