MCL - 218-1956-4

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Chapter 500
Act 218 of 1956
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THE INSURANCE CODE OF 1956 (EXCERPT)


Act 218 of 1956

Chapter 4

AUTHORIZATION OF INSURERS AND GENERAL REQUIREMENTS

Document Type Description
Section 500.402 Section Insurers; certificate of authority requirement.
Section 500.402a Section Transactions of insurance requiring certificate of authority.
Section 500.402b Section Transactions of insurance not requiring certificate of authority.
Section 500.402c Section Motor vehicle rental company; insurance transaction; definitions.
Section 500.403 Section Insurers; authorization to do business.
Section 500.404 Section Insurers; financial conditions; compliance required.
Section 500.405 Section Foreign insurer; revocation of certificate of authority; conditions; requalification for certificate of authority if control acquired; determination.
Section 500.405a Section Insurer subject to delinquency proceedings; revocation of certificate of authority; conditions.
Section 500.405b Section Requalification pursuant to MCL 500.405 or 500.405a; formal review.
Section 500.406 Section Foreign insurer; limitation on corporate purposes and powers; election of statute; denial of admission or authority; continuation of license to transact insurance business previously authorized; exception.
Section 500.407 Section Authorization to transact kinds of insurance; exceptions.
Section 500.407a Section Noninsured benefit plan; offering and writing excess loss insurance; definition; authority of insurer not limited.
Section 500.408 Section Insurers; capital, surplus, or asset requirement; schedule; multiple lines; provisions for transacting certain insurance; applicability of section; compliance with MCL 500.403.
Section 500.410 Section Minimum amount of unimpaired capital and surplus; minimum amount and use of additional surplus; transacting life insurance or property insurance; continuing to transact insurance; transacting legal expense insurance; compliance with MCL 500.403.
Section 500.410a Section Bail bond surety and fidelity insurance company; authority to transact insurance.
Section 500.411 Section Deposits required to transact insurance.
Section 500.412 Section Procedure for becoming domestic insurer.
Section 500.413 Section Transfer of domicile of domestic insurer to another state; effect of transfer; approval of transfer; “U.S. branch” defined.
Section 500.414 Section Certificate of authority, agent's appointments, licenses, rates, and other items of transferring insurer continue in full force and effect; outstanding policies remain in full force and effect; filing new or existing policy forms; notice of proposed transfer; filing amendments to corporate documents.
Section 500.415 Section Rules.
Section 500.416 Section Special deposit.
Section 500.417 Section Repealed. 1966, Act 137, Eff. Mar. 10, 1967.
Section 500.418 Section Identification of payers subject to child support arrearages; "title IV-D agency" defined.
Section 500.422 Section Repealed. 1994, Act 226, Imd. Eff. June 27, 1994.
Section 500.424 Section Admission of foreign or alien insurer to state; application; report of financial standing; issuance of certificate of authority; filing fees.
Section 500.425, 500.426 Section Repealed. 1992, Act 182, Imd. Eff. Oct. 1, 1992.
Section 500.430 Section Repealed. 1992, Act 182, Imd. Eff. Oct. 1, 1992.
Section 500.431 Section Definitions.
Section 500.431a Section State of entry by alien insurer through U.S. branch; requirements.
Section 500.431b Section U.S. branch using state as state of entry to transact insurance; compliance.
Section 500.431c Section Trusteed assets; value.
Section 500.432 Section Trust agreement and amendments; authentication; withdrawal of approval; form; hearing; modifications or variations; contents and provisions of trust agreement; withdrawal of trusteed assets in another state; notice; examination by commissioner; effect of refusal or neglect to comply with subsection (8); review.
Section 500.432a Section Certificate of authority to do business; issuance or amendment to U.S. branch; proof that insurer will not violate act or charter; noncompliance.
Section 500.433 Section Trusteed assets below minimum required; proceeding against alien insurer.
Section 500.434 Section Repealed. 1972, Act 360, Imd. Eff. Jan. 9, 1973.
Section 500.435 Section Certificate of authority as evidence of authority to transact insurance; duration of certificate; certificate as property of state; prerequisites to termination of certificate.
Section 500.436 Section Conditions for suspension, revocation, or limitation of certificate of authority; "insurer" defined.
Section 500.436a Section Continuing operation of insurer transacting insurance in state or nonprofit dental corporation operating under MCL 550.351 to 550.373; standards; subscription to private rating organization not required; determination of financial condition; issuance of order by director; hearing requested by insurer.
Section 500.436b Section Certificate of authority limited by order of commissioner.
Section 500.437 Section Proceeding for suspension, revocation, or limitation of certificate of authority; notice; imposition of conditions in order of limitation.
Section 500.438 Section Annual statement; filing; extensions; format and content; reply to inquiries; availability of report to public; penalty for failure to file statement or reply to inquiry; statement of alien insurer; "U.S. branch" defined.
Section 500.438a Section Domestic, foreign, and alien insurers; filing annual statement with national association of insurance commissioners; foreign insurers considered in compliance with section; agents of commissioner; confidentiality of information.
Section 500.439 Section Repealed. 1992, Act 182, Imd. Eff. Oct. 1, 1992.
Section 500.440 Section Repealed. 1987, Act 261, Imd. Eff. Dec. 28, 1987.
Section 500.440a Section Credit against tax imposed by MCL 500.476a; claim; refund; retroactive application.
Section 500.441, 500.442 Section Repealed. 1987, Act 261, Imd. Eff. Dec. 28, 1987.
Section 500.443 Section Foreign insurer; payment of quarterly installments of estimated tax; filing statement with revenue commissioner.
Section 500.444 Section Collection of delinquent taxes with interest or penalty.
Section 500.445 Section Delinquency as bar to granting certificate of authority.
Section 500.446 Section Repealed. 1987, Act 261, Imd. Eff. Dec. 28, 1987.
Section 500.448, 500.449 Section Repealed. 1975, Act 232, Eff. July 2, 1976.
Section 500.450 Section Repealed. 1987, Act 261, Imd. Eff. Dec. 28, 1987.
Section 500.451 Section Taxes on unauthorized insurers; regulatory fee; payment; delinquency.
Section 500.454 Section Name of insurer.
Section 500.456 Section Legal process served on resident agent effective as personal service on company, association, or group; stipulation; filing copy of appointment; fee; duration of appointment; service of process.
Section 500.457 Section Repealed. 1992, Act 182, Imd. Eff. Oct. 1, 1992.
Section 500.460 Section Insurance producer to write or place insurance policies.
Section 500.462 Section Signature of insurance producer on application for life or disability insurance.
Section 500.464 Section Additional deposits by domestic insurers.
Section 500.470 Section Repealed. 1992, Act 182, Imd. Eff. Oct. 1, 1992.
Section 500.476 Section Repealed. 1987, Act 261, Imd. Eff. Dec. 28, 1987.
Section 500.476a Section Alien or foreign insurers; deposit of securities or making certain payments; computation; revocation of certificate of authority; purpose of section; domestic insurer owned or controlled by alien or foreign insurer; domestic insurer as alien or foreign insurer; compliance; taxes subject to MCL 208.1243 and 206.643; administration of tax; disclosure of tax return; housing opportunity tax credit.
Section 500.476b Section Taxes to which authorized insurer subject.
Section 500.476c Section Repealed. 1993, Act 200, Eff. Dec. 28, 1994.
Section 500.478 Section NAIC report of activities.
Section 500.479 Section Imposition of fee by NAIC.
Section 500.480 Section Definitions.