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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)
218-1956-20 CHAPTER 20 UNFAIR AND PROHIBITED TRADE PRACTICES AND FRAUDS (500.2001...500.2093)
Section 500.2017 Unfair methods of competition or deception; illegal inducements.
Universal Citation: MI Comp L § 500.2017 (2017)
500.2017 Unfair methods of competition or deception; illegal inducements.
Sec. 2017.
The following are defined as unfair methods of competition and unfair and deceptive acts or practices in the business of insurance:
Issuing or delivering or permitting agents, officers, or employees to issue or deliver, agency company stock or other capital stock, or benefit certificates or shares in any common law corporation, or securities or any special or advisory board contracts or other contracts of any kind promising returns and profits as an inducement to insurance.
History: 1956, Act 218, Eff. Jan. 1, 1957
Popular Name: Act 218
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