MCL - 218-1956-10

Act 218 of 1956
Chapter 10
Document Type Description
Section 500.1001 Section Definitions.
Section 500.1003 Section Nonapplicability of chapter.
Section 500.1005 Section Insurer; annual audit; filing date; extensions; designation of audit committee.
Section 500.1007 Section Annual audited financial report; contents; form; conduct of examination by independent public accountant.
Section 500.1009 Section Insurer required to file annual audited report; registration of insurer's independent public accountant; letter required; dismissal or resignation of independent public accountant; notice; report of disagreement; responsive letter.
Section 500.1010 Section Recognition of person or firm as independent public accountant; mediation or arbitration of disputes; limitation on period of service; relief from rotation requirement; restrictions; hearing; ruling by commissioner; exemption from subsection (7); nonaudit services; preapproval; waiver; independent public accountant not recognized as qualified; condition; relief from subsection (14).
Section 500.1011 Section Audited consolidated or combined financial statements; application for filing; work sheet.
Section 500.1015 Section Independent public accountant; reporting determination that insurer materially misstated financial condition or does not meet requirements of MCL 500.408 or MCL 500.410; liability; action to be taken after date of audited financial report.
Section 500.1017 Section Independent public accountant; communicating unremediated material weaknesses; description.
Section 500.1019 Section Independent public accountant; filing letter with annual audited financial report; contents.
Section 500.1021 Section Work papers; availability; retention; review as investigation; use.
Section 500.1023 Section Compliance with chapter; exemption; filing reports on other than calendar year basis; compliance by domestic insurers; schedule; compliance by foreign insurers.
Section 500.1025 Section Canadian and British insurers; annual audited financial report; contents of independent public accountant's letter.
Section 500.1027 Section Applicability of section to domestic insurer not SOX compliant entity; duties of audit committee; member of audit committee as independent; election of controlling person; report by accountant; reports provided on aggregate basis; structure of audit committee; waiver from section based on hardship; effective date of section; "direct written and assumed premiums" defined.
Section 500.1028 Section Internal audit function; exemption; confidentiality; report to audit committee.
Section 500.1029 Section Director or officer of insurer; prohibited conduct.
Section 500.1031 Section Report of insurer's or group of insurers' internal control over financial reporting; requirements.
Section 500.1033 Section Exemption from any or all provisions of chapter.