2017 Michigan Compiled Laws
Chapter 500 - Insurance Code of 1956
Act 218 of 1956 THE INSURANCE CODE OF 1956 (500.100 - 500.8302)
218-1956-19 CHAPTER 19 (500.1901...500.1955)
- Section 500.1901 Short title.
- Section 500.1902 Liberal construction and application.
- Section 500.1903 Definitions; conflicting provisions.
- Section 500.1903a Contract of insurance.
- Section 500.1904 Rates and forms used by unauthorized insurers.
- Section 500.1905 License required to act as agent or broker in transaction of surplus lines insurance; compliance; requirements for obtaining surplus lines license; permissible acts of surplus lines licensee; conditions to placement of insurance with eligible unauthorized insurer.
- Section 500.1906 Books and records of surplus lines licensee; examination; access.
- Section 500.1910 Prohibited placement of insurance with unauthorized insurer; rebuttable presumption as to availability of coverages; list of unavailable lines of insurance; additions to or deletions from list; publication, revision, and availability of list.
- Section 500.1911 Issuing evidence of placement of insurance with eligible unauthorized insurer; conditions; identification of entities directly assuming risk of loss; specifying obligation as joint or several; specifying proportion of obligation assumed.
- Section 500.1912 Delivery of written evidence of insurance to insured or insured's representative; time; conditions.
- Section 500.1913 Separate account of each transaction; filing certified evidence of transactions.
- Section 500.1915 Charging fee in excess of $50.00; conditions; excessive or discriminatory fee prohibited; documentation of fees; exclusion of fees in computation of premium taxes; adjustment; "consumer price index" defined.
- Section 500.1916 Compensation of licensee and licensed resident agent; collection of premiums; effect of premium payment made to agent.
- Section 500.1917 Liability if risk assumed and premium received by licensee.
- Section 500.1920 Recognition as eligible surplus lines insurer; application; recommendations; conditions; information; examination; removal of insurer from list.
- Section 500.1921 Recognition as eligible unauthorized insurer; deposit; trust fund, marketable securities, or equivalent instruments; provisions inapplicable to certain unincorporated, alien insurers; commissioner as resident agent for service of process.
- Section 500.1922 Notice on face of instrument evidencing surplus lines insurance.
- Section 500.1930 Association of licensees; registration; purposes; required filings by association; reasons for refusal to register association; reasons for suspension or revocation of registration; denial of membership.
- Section 500.1932 Servicing facility; establishment; reimbursement for expenses and payments; functions; approval; member licensee as servicing facility.
- Section 500.1933 Suits by or against association; assertion or defense of rights.
- Section 500.1934 Filing certified audit of books, records, and trust funds.
- Section 500.1940 Reports and recommendations regarding financial condition of eligible unauthorized insurer; reports and recommendations not considered public documents; liability for statements.
- Section 500.1946 Repealed. 2000, Act 486, Imd. Eff. Jan. 11, 2001.
- Section 500.1950 Placement of insurance with insurer which is neither an authorized insurer nor an eligible unauthorized insurer; duties of licensee.
- Section 500.1951 Procuring, continuing, or renewing insurance with unauthorized insurer; report; tax on premiums; regulatory fee.
- Section 500.1952 Violation as misdemeanor; penalty.
- Section 500.1955 Rules implementing chapter; declaratory rulings.
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