Michigan Compiled Laws
218-1956-14A - Chapter 14a Producer Controlled Insurers (500.1451...500.1474)
Section 500.1453 - Exceptions to Provisions of Chapter.

Sec. 1453.
The provisions of this chapter do not apply to the following:
(a) Risk retention groups as defined in section 1801.
(b) Captive insurers owned by another organization whose exclusive purpose is to insure risks of the parent organization and affiliated companies or, in the case of groups and associations, owned by the insureds whose exclusive purpose is to insure risks of member organizations or group members and their affiliates.
History: Add. 1994, Act 227, Imd. Eff. June 27, 1994 Popular Name: Act 218

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Structure Michigan Compiled Laws

Michigan Compiled Laws

Chapter 500 - Insurance Code of 1956

Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)

218-1956-14A - Chapter 14a Producer Controlled Insurers (500.1451...500.1474)

Section 500.1451 - “Producer” Defined.

Section 500.1452 - Repealed. 1972, Act 133, Eff. Mar. 30, 1973.

Section 500.1453 - Exceptions to Provisions of Chapter.

Section 500.1454 - Repealed. 1972, Act 133, Eff. Mar. 30, 1973.

Section 500.1455 - Applicability of Section; Contract Between Controlling Producer and Insurer Required for Doing Business; Minimum Provisions; Audit Committee; Reports; Applicability of Section 60 Days After Effective Date of Chapter.

Section 500.1456 - Repealed. 1972, Act 133, Eff. Mar. 30, 1973.

Section 500.1457 - Notice of Relationship Between Producer and Controlled Insurer; Exception; Applicability of Section to Policies Written or Renewed 60 Days After Effective Date of Chapter.

Section 500.1458 - Repealed. 1972, Act 133, Eff. Mar. 30, 1973.

Section 500.1459 - Noncompliance With Chapter, Regulation, or Order; Authority of Commissioner; Civil Action for Recovery of Damages for Benefit of Insurer; Other Penalties; Rights of Third Parties Not Affected or Altered.

Section 500.1460-500.1474 - Repealed. 1972, Act 133, Eff. Mar. 30, 1973.