Sec. 118.
If an alien insurer is domiciled in a country other than the United States that has an agreement with the United States whereby each agrees to treat insurers domiciled in the other country the same as insurers domiciled in its own country, the alien insurer may apply for a certificate of authority as a foreign insurer pursuant to section 424. If the certificate of authority as a foreign insurer is granted, the alien insurer shall be treated as a foreign insurer under this act, but only to the extent that the other country and its political subdivisions in which the alien insurer is domiciled actually extend like treatment to insurers domiciled in the United States.
History: Add. 1992, Act 182, Imd. Eff. Oct. 1, 1992 Popular Name: Act 218Popular Name: Essential Insurance
Structure Michigan Compiled Laws
Chapter 500 - Insurance Code of 1956
Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)
218-1956-1 - Chapter 1 Scope of Code (500.100...500.150)
Section 500.100 - Insurance Code of 1956; Short Title.
Section 500.102 - Definitions.
Section 500.103 - “Revenue Commissioner” Defined.
Section 500.106 - "Health Maintenance Organization" and "Insurer" Defined.
Section 500.108 - Authorized, Unauthorized Insurer; Definitions.
Section 500.110 - Domestic, Foreign, Alien; Definitions.
Section 500.114 - Person; Definition.
Section 500.115 - Definitions.
Section 500.116 - Additional Definitions.
Section 500.118 - Treatment of Alien Insurer as Foreign Insurer.
Section 500.121 - Surety; Rights; Remedies; Relief.
Section 500.122 - Applicability of Michigan Antitrust Reform Act.
Section 500.126 - Waiver of Customer Liability Agreement; Definitions.
Section 500.128 - Additional Exceptions.
Section 500.129 - Medical Retainer Agreement Not Subject to Act.
Section 500.132 - Saving Clause; Incumbent Officers.
Section 500.140 - Saving Clause; Existence of Domestic Insurer Continued.
Section 500.142 - Repealed. 1992, Act 182, Imd. Eff. Oct. 1, 1992
Section 500.150 - Violation of Act; Hearing; Order of Director; Penalties; Court Order.