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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)
AN ACT to revise, consolidate, and classify the laws relating to the insurance and surety business; to regulate the incorporation or formation of domestic insurance and surety companies and associations and the admission of foreign and alien companies and associations; to provide their rights, powers, and immunities and to prescribe the conditions on which companies and associations organized, existing, or authorized under this act may exercise their powers; to provide the rights, powers, and immunities and to prescribe the conditions on which other persons, firms, corporations, associations, risk retention groups, and purchasing groups engaged in an insurance or surety business may exercise their powers; to provide for the imposition of a privilege fee on domestic insurance companies and associations and the state accident fund; to provide for the imposition of a tax on the business of foreign and alien companies and associations; to provide for the imposition of a tax on risk retention groups and purchasing groups; to provide for the imposition of a tax on the business of surplus line agents; to provide for the imposition of regulatory fees on certain insurers; to provide for assessment fees on certain health maintenance organizations; to modify tort liability arising out of certain accidents; to provide for limited actions with respect to that modified tort liability and to prescribe certain procedures for maintaining those actions; to require security for losses arising out of certain accidents; to provide for the continued availability and affordability of automobile insurance and homeowners insurance in this state and to facilitate the purchase of that insurance by all residents of this state at fair and reasonable rates; to provide for certain reporting with respect to insurance and with respect to certain claims against uninsured or self-insured persons; to prescribe duties for certain state departments and officers with respect to that reporting; to provide for certain assessments; to establish and continue certain state insurance funds; to modify and clarify the status, rights, powers, duties, and operations of the nonprofit malpractice insurance fund; to provide for the departmental supervision and regulation of the insurance and surety business within this state; to provide for regulation over worker's compensation self-insurers; to provide for the conservation, rehabilitation, or liquidation of unsound or insolvent insurers; to provide for the protection of policyholders, claimants, and creditors of unsound or insolvent insurers; to provide for associations of insurers to protect policyholders and claimants in the event of insurer insolvencies; to prescribe educational requirements for insurance agents and solicitors; to provide for the regulation of multiple employer welfare arrangements; to create an automobile theft prevention authority to reduce the number of automobile thefts in this state; to prescribe the powers and duties of the automobile theft prevention authority; to provide certain powers and duties upon certain officials, departments, and authorities of this state; to provide for an appropriation; to repeal acts and parts of acts; and to provide penalties for the violation of this act.
Popular Name: Act 218
History: 1956, Act 218, Eff. Jan. 1, 1957 ;-- Am. 1972, Act 294, Eff. Mar. 30, 1973 ;-- Am. 1977, Act 42, Imd. Eff. June 28, 1977 ;-- Am. 1979, Act 145, Imd. Eff. Nov. 13, 1979 ;-- Am. 1980, Act 41, Imd. Eff. Mar. 17, 1980 ;-- Am. 1982, Act 194, Imd. Eff. June 28, 1982 ;-- Am. 1986, Act 10, Imd. Eff. Feb. 28, 1986 ;-- Am. 1986, Act 121, Imd. Eff. May 28, 1986 ;-- Am. 1986, Act 173, Imd. Eff. July 7, 1986 ;-- Am. 1989, Act 214, Eff. Jan. 1, 1990 ;-- Am. 1991, Act 24, Imd. Eff. May 20, 1991 ;-- Am. 1994, Act 228, Imd. Eff. June 30, 1994 ;-- Am. 1998, Act 457, Imd. Eff. Jan. 4, 1999 ;-- Am. 2002, Act 304, Imd. Eff. May 10, 2002
Popular Name: Act 218
- 218-1956-1 CHAPTER 1 SCOPE OF CODE (500.100...500.150)
- 218-1956-2 CHAPTER 2 THE INSURANCE COMMISSIONER (500.200...500.251)
- 218-1956-4 CHAPTER 4 AUTHORIZATION OF INSURERS AND GENERAL REQUIREMENTS (500.402...500.480)
- 218-1956-5 CHAPTER 5 PRIVACY OF FINANCIAL INFORMATION (500.501...500.547)
- 218-1956-6 CHAPTER 6 KINDS OF INSURANCE; REINSURANCE; LIMIT OF RISK (500.600...500.644)
- 218-1956-7 CHAPTER 7 RESERVE STANDARDS FOR DISABILITY INSURANCE (500.701...500.737)
- 218-1956-8 CHAPTER 8 ASSETS AND LIABILITIES (500.808...500.842)
- 218-1956-9 CHAPTER 9 INVESTMENTS (500.900...500.960)
- 218-1956-10 CHAPTER 10 ANNUAL AUDITED FINANCIAL REPORTS (500.1001...500.1033)
- 218-1956-11 CHAPTER 11 REINSURANCE (500.1101...500.1127)
- 218-1956-11A CHAPTER 11A REINSURANCE INTERMEDIARIES (500.1151...500.1171)
- 218-1956-12 CHAPTER 12 AGENTS, SOLICITORS, ADJUSTERS, AND COUNSELORS (500.1200...500.1247)
- 218-1956-12A CHAPTER 12A (500.1261...500.1272)
- 218-1956-13 CHAPTER 13 HOLDING COMPANIES (500.1301...500.1379)
- 218-1956-14 CHAPTER 14 MANAGING GENERAL AGENTS (500.1400...500.1450)
- 218-1956-14A CHAPTER 14a PRODUCER CONTROLLED INSURERS (500.1451...500.1474)
- 218-1956-15 CHAPTER 15 INSURANCE PREMIUM FINANCE COMPANIES (500.1501...500.1514)
- 218-1956-16. CHAPTER 16. Creditor-Placed Insurance (500.1601...500.1631)
- 218-1956-17 CHAPTER 17 RISK MANAGEMENT AND OWN RISK AND SOLVENCY ASSESSMENT (500.1701...500.1715)
- 218-1956-18 CHAPTER 18 (500.1801...500.1864)
- 218-1956-19 CHAPTER 19 (500.1901...500.1955)
- 218-1956-20 CHAPTER 20 UNFAIR AND PROHIBITED TRADE PRACTICES AND FRAUDS (500.2001...500.2093)
- 218-1956-21 CHAPTER 21 (500.2101...500.2138)
- 218-1956-21A CHAPTER 21a CREDIT INFORMATION AND CREDIT SCORES (500.2151...500.2161)
- 218-1956-22 CHAPTER 22 THE INSURANCE CONTRACT (500.2204...500.2290)
- 218-1956-22A CHAPTER 22A (500.2270...500.2277)
- 218-1956-23 CHAPTER 23 WORKER'S COMPENSATION INSURANCE RATES (500.2301...500.2352)
- 218-1956-24 CHAPTER 24 CASUALTY INSURANCE RATES (500.2400...500.2484)
- 218-1956-25 CHAPTER 25 BROWN-McNEELY INSURANCE FUND (500.2500...500.2517)
- 218-1956-26 CHAPTER 26 FIRE AND INLAND MARINE RATES (500.2600...500.2674)
- 218-1956-27 CHAPTER 27 LEGAL EXPENSE INSURANCE (500.2700...500.2706)
- 218-1956-28 CHAPTER 28 FIRE INSURANCE CONTRACTS (500.2804...500.2866)
- 218-1956-29 CHAPTER 29 BASIC PROPERTY INSURANCE (500.2901...500.2954)
- 218-1956-30 CHAPTER 30 CASUALTY INSURANCE CONTRACTS (500.3004...500.3037)
- 218-1956-30A CHAPTER 30A (500.3051...500.3062)
- 218-1956-31 CHAPTER 31 MOTOR VEHICLE PERSONAL AND PROPERTY PROTECTION (500.3101...500.3179)
- 218-1956-32 CHAPTER 32 CANCELLATION OF AUTOMOBILE LIABILITY POLICIES (500.3201...500.3262)
- 218-1956-33 CHAPTER 33 AUTOMOBILE INSURANCE PLACEMENT FACILITY (500.3301...500.3390)
- 218-1956-34 CHAPTER 34 DISABILITY INSURANCE POLICIES (500.3400...500.3480)
- 218-1956-35 CHAPTER 35 HEALTH MAINTENANCE ORGANIZATIONS (500.3501...500.3580)
- 218-1956-36 CHAPTER 36 GROUP AND BLANKET DISABILITY INSURANCE (500.3600...500.3650)
- 218-1956-37 CHAPTER 37 SMALL EMPLOYER GROUP HEALTH COVERAGE (500.3701...500.3728)
- 218-1956-38 CHAPTER 38 MEDICARE SUPPLEMENT POLICIES AND CERTIFICATES (500.3801...500.3861)
- 218-1956-39 CHAPTER 39 LONG-TERM CARE INSURANCE (500.3901...500.3955)
- 218-1956-39A CHAPTER 39A LONG-TERM CARE PARTNERSHIP PROGRAM INSURANCE (500.3957...500.3965)
- 218-1956-40 CHAPTER 40 LIFE INSURANCE POLICIES AND ANNUITY CONTRACT (OTHER THAN INDUSTRIAL OR GROUP) (500.4000...500.4073)
- 218-1956-41 CHAPTER 41 MODIFIED GUARANTEED ANNUITIES (500.4101...500.4127)
- 218-1956-41A CHAPTER 41A ANNUITY RECOMMENDATION TO CONSUMERS (500.4151...500.4165)
- 218-1956-42 CHAPTER 42 INDUSTRIAL LIFE INSURANCE (500.4200...500.4244)
- 218-1956-44 CHAPTER 44 GROUP LIFE INSURANCE (500.4400...500.4454)
- 218-1956-45 CHAPTER 45 INSURANCE FRAUD (500.4501...500.4511)
- 218-1956-46 CHAPTER 46 CAPTIVE INSURANCE COMPANIES (500.4601...500.4673)
- 218-1956-47 CHAPTER 47 SPECIAL PURPOSE FINANCIAL CAPTIVES (500.4701...500.4747)
- 218-1956-48 CHAPTER 48 PROTECTED CELL INSURANCE COMPANIES (500.4801...500.4813)
- 218-1956-50 CHAPTER 50 ORGANIZATION OF DOMESTIC STOCK AND MUTUAL INSURERS (500.5000...500.5040)
- 218-1956-51 CHAPTER 51 ORGANIZATION OF AN ACQUIRING INSURER FOR TRANSACTION OF CERTAIN TYPES OF INSURANCE (500.5100...500.5114)
- 218-1956-52 CHAPTER 52 CORPORATE POWERS, PROCEDURES OF STOCK AND MUTUAL INSURERS (500.5200...500.5290)
- 218-1956-54 CHAPTER 54 MUTUAL LIFE AND DISABILITY INSURERS (DOMESTIC) (500.5400...500.5430)
- 218-1956-58 CHAPTER 58 GENERAL MUTUAL INSURERS (DOMESTIC) (500.5800...500.5840)
- 218-1956-59 CHAPTER 59 CONVERSION OF DOMESTIC MUTUAL INSURER TO DOMESTIC STOCK INSURER (500.5901...500.5927)
- 218-1956-60 CHAPTER 60 Reorganization of Mutual Insurers (500.6001...500.6031)
- 218-1956-61 CHAPTER 61 AUTOMOBILE THEFT PREVENTION AUTHORITY (500.6101... 500.6125)
- 218-1956-62 CHAPTER 62 MUTUAL EMPLOYERS' LIABILITY INSURERS (DOMESTIC) (500.6200...500.6236)
- 218-1956-64 CHAPTER 64 COOPERATIVE PLAN INSURERS (DOMESTIC) (500.6400...500.6460)
- 218-1956-65 CHAPTER 65 LIMITED LIABILITY POOLS (500.6500...500.6550)
- 218-1956-66 CHAPTER 66 RAILWAY EMPLOYEES, AND LIFE, DISABILITY INSURERS (DOMESTIC, STOCK) (500.6600...500.6616)
- 218-1956-68 CHAPTER 68 FARMERS' AND OTHER SPECIAL MUTUAL PROPERTY INSURERS (DOMESTIC) (500.6800...500.6886)
- 218-1956-70 CHAPTER 70 MULTIPLE EMPLOYER WELFARE ARRANGEMENTS (500.7001...500.7090)
- 218-1956-72 CHAPTER 72 RECIPROCAL INSURANCE EXCHANGES (500.7200...500.7234)
- 218-1956-73 CHAPTER 73 TITLE INSURERS (500.7300...500.7318)
- 218-1956-76 CHAPTER 76 CONSOLIDATION OR MERGER OF DOMESTIC INSURERS (500.7604...500.7606)
- 218-1956-77 CHAPTER 77 (500.7701...500.7780)
- 218-1956-78 CHAPTER 78 LIQUIDATIONS AND RECEIVERSHIPS (500.7800...500.7868)
- 218-1956-79 CHAPTER 79 PROPERTY AND CASUALTY GUARANTY ASSOCIATION (500.7901...500.7949)
- 218-1956-80 CHAPTER 80 FRATERNAL BENEFIT SOCIETIES (500.8000...500.8095)
- 218-1956-81 CHAPTER 81 SUPERVISION, REHABILITATION, AND LIQUIDATION (500.8101...500.8160)
- 218-1956-81A CHAPTER 81a FRATERNAL BENEFIT SOCIETIES (500.8161...500.8199a)
- 218-1956-82 CHAPTER 82 TRANSFORMATION OF FRATERNAL BENEFIT SOCIETIES (500.8204...500.8254)
- 218-1956-83 CHAPTER 83 REPEALS, SAVING CLAUSE, EFFECTIVE DATE (500.8300...500.8302)
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