Sec. 1208a.
(1) An insurance producer shall not act as the agent of an insurer unless the insurance producer becomes an appointed agent of that insurer. An insurance producer who is not acting as an agent of the insurer is not required to become appointed.
(2) An insurance producer shall not bind coverage for an insurer unless the insurance producer is appointed by the insurer.
(3) To appoint a producer as its agent, the appointing insurer shall file, in a format approved by the director, a notice of appointment for the qualifications held by that insurance producer within 15 days from the date the agency contract is executed or the first insurance application is submitted. An insurer may also elect to appoint an insurance producer to all or some insurers within the insurer's holding company system or group by the filing of a single appointment request.
(4) On receipt of the notice of appointment, the director shall verify within a reasonable time not to exceed 30 days that the insurance producer is eligible for appointment. If the insurance producer is determined to be ineligible for appointment, the director shall notify the insurer within 5 days of that determination.
(5) An insurer shall pay an appointment fee and a renewal appointment fee as provided under section 240(1)(c) for each insurance producer appointed or renewed by the insurer.
History: Add. 2001, Act 228, Eff. Mar. 1, 2002 ;-- Am. 2018, Act 449, Imd. Eff. Dec. 21, 2018 Popular Name: Act 218
Structure Michigan Compiled Laws
Chapter 500 - Insurance Code of 1956
Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)
218-1956-12 - Chapter 12 Agents, Solicitors, Adjusters, and Counselors (500.1200...500.1247)
Section 500.1200 - “Good Moral Character” Defined.
Section 500.1201 - Definitions.
Section 500.1202 - Insurance Producer License; Definitions.
Section 500.1204b - Repealed. 2017, Act 67, Imd. Eff. June 30, 2017.
Section 500.1204e - Nonresident License Applicant; Requirements.
Section 500.1208 - Insurance Effected by Agent on Certain Risks; Limitation.
Section 500.1210 - Accident and Health Insurance Agent as Health Benefit Agent.
Section 500.1211a - Assumed Name; Use.
Section 500.1211b - Temporary License.
Section 500.1222 - Adjuster's License Required; Exemptions.
Section 500.1227 - Conduct of Adjuster; Prohibitions.
Section 500.1228 - Records of Adjuster.
Section 500.1236 - Written Agreement Between Insurance Counselor and Client.
Section 500.1240 - Payment or Acceptance of Commission, Service Fee, or Valuable Consideration.
Section 500.1243 - Definitions; Sale of Insurance by Lender.
Section 500.1246 - Confidentiality; Use of Documents, Materials, or Other Information.