Michigan Compiled Laws
218-1956-19 - Chapter 19 (500.1901...500.1955)
Section 500.1902 - Liberal Construction and Application.

Sec. 1902.
This chapter shall be liberally construed and applied to promote its underlying purposes which include:
(a) Protecting persons seeking insurance in this state.
(b) Permitting stable and reputable insurers to write surplus lines insurance in this state.
(c) Establishing a system of regulation which will permit an orderly access to surplus lines insurance in this state.
History: Add. 1980, Act 341, Eff. June 23, 1981 Popular Name: Act 218

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)

218-1956-19 - Chapter 19 (500.1901...500.1955)

Section 500.1901 - Short Title.

Section 500.1902 - Liberal Construction and Application.

Section 500.1903 - Definitions; Conflicting Provisions.

Section 500.1903a - Contract of Insurance.

Section 500.1904 - Rates and Forms Used by Unauthorized Insurers.

Section 500.1905 - License Required to Act as Agent or Broker in Transaction of Surplus Lines Insurance; Compliance; Requirements for Obtaining Surplus Lines License; Permissible Acts of Surplus Lines Licensee; Conditions to Placement of Insurance Wi...

Section 500.1906 - Books and Records of Surplus Lines Licensee; Examination; Access.

Section 500.1910 - Prohibited Placement of Insurance With Unauthorized Insurer; Rebuttable Presumption as to Availability of Coverages; List of Unavailable Lines of Insurance; Additions to or Deletions From List; Publication, Revision, and Availabili...

Section 500.1911 - Issuing Evidence of Placement of Insurance With Eligible Unauthorized Insurer; Conditions; Identification of Entities Directly Assuming Risk of Loss; Specifying Obligation as Joint or Several; Specifying Proportion of Obligation As...

Section 500.1912 - Delivery of Written Evidence of Insurance to Insured or Insured's Representative; Time; Conditions.

Section 500.1913 - Separate Account of Each Transaction; Filing Certified Evidence of Transactions.

Section 500.1915 - Charging Fees; Conditions; Excessive or Discriminatory Fee Prohibited; Documentation and Evidence of Disclosure of Fees; Exclusion of Fees in Computation of Premium Taxes.

Section 500.1916 - Compensation of Licensee and Licensed Resident Agent; Collection of Premiums; Effect of Premium Payment Made to Agent.

Section 500.1917 - Liability if Risk Assumed and Premium Received by Licensee.

Section 500.1920 - Recognition as Eligible Surplus Lines Insurer; Application; Recommendations; Conditions; Information; Examination; Removal of Insurer From List.

Section 500.1921 - Recognition as Eligible Unauthorized Insurer; Deposit; Trust Fund, Marketable Securities, or Equivalent Instruments; Provisions Inapplicable to Certain Unincorporated, Alien Insurers; Commissioner as Resident Agent for Service of P...

Section 500.1922 - Notice on Face of Instrument Evidencing Surplus Lines Insurance.

Section 500.1930 - Association of Licensees; Registration; Purposes; Required Filings by Association; Reasons for Refusal to Register Association; Reasons for Suspension or Revocation of Registration; Denial of Membership.

Section 500.1932 - Servicing Facility; Establishment; Reimbursement for Expenses and Payments; Functions; Approval; Member Licensee as Servicing Facility.

Section 500.1933 - Suits by or Against Association; Assertion or Defense of Rights.

Section 500.1934 - Filing Certified Audit of Books, Records, and Trust Funds.

Section 500.1940 - Reports and Recommendations Regarding Financial Condition of Eligible Unauthorized Insurer; Reports and Recommendations Not Considered Public Documents; Liability for Statements.

Section 500.1946 - Repealed. 2000, Act 486, Imd. Eff. Jan. 11, 2001.

Section 500.1950 - Placement of Insurance With Insurer Which Is Neither an Authorized Insurer nor an Eligible Unauthorized Insurer; Duties of Licensee.

Section 500.1951 - Procuring, Continuing, or Renewing Insurance With Unauthorized Insurer; Report; Tax on Premiums; Regulatory Fee.

Section 500.1952 - Violation as Misdemeanor; Penalty.

Section 500.1955 - Rules Implementing Chapter; Declaratory Rulings.