Sec. 2038.
(1) If, after opportunity for a hearing held under the administrative procedures act of 1969, 1969 PA 306, MCL 24.201 to 24.328, the director determines that the person complained of has engaged in methods of competition or unfair or deceptive acts or practices prohibited by sections 2001 to 2050, the director shall reduce his or her findings and decision to writing and shall issue and cause to be served on the person charged with the violation a copy of the findings and an order requiring the person to cease and desist from engaging in that method of competition, act, or practice. The director may also order any of the following:
(a) Payment of a monetary penalty of not more than $1,000.00 for each violation but not to exceed an aggregate penalty of $10,000.00, unless the person knew or reasonably should have known he was in violation of this chapter, in which case the penalty must not be more than $5,000.00 for each violation and must not exceed an aggregate penalty of $50,000.00 for all violations committed in a 6-month period.
(b) Suspension or revocation of the person's license or certificate of authority if the person knowingly and persistently violated a provision of this chapter.
(c) Refund of any overcharges.
(2) The filing of a petition for review does not stay enforcement of action under this section, but the director may grant, or the appropriate court may order, a stay on appropriate terms.
(3) If a petition for review has not been filed within the time allowed under section 244, until the time for filing the petition expires or, if a petition for review has been filed within that time, until the transcript of the record in the proceeding has been filed in the circuit court, as provided in this chapter, the director, on notice and in a manner as he or she considers proper, may modify or set aside in whole or in part an order issued under this section.
(4) After the expiration of the time allowed for filing a petition for review, if a petition has not been filed within that time, the director may at any time, by order, after notice and opportunity for hearing, reopen and alter, modify, or set aside, in whole or in part, an order issued under this section, if in the director's opinion conditions of fact or of law have so changed as to require that action or if required by the public interest.
History: 1956, Act 218, Eff. Jan. 1, 1957 ;-- Am. 1976, Act 273, Eff. Apr. 1, 1977 ;-- Am. 2019, Act 21, Imd. Eff. June 11, 2019 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)
218-1956-20 - Chapter 20 Unfair and Prohibited Trade Practices and Frauds (500.2001...500.2093)
Section 500.2001 - Short Title.
Section 500.2002 - Purpose of Act.
Section 500.2003 - Prohibited Trade Practices; "Person" Defined.
Section 500.2005 - Misrepresentations.
Section 500.2005a - Unfair Method of Competition; Unfair or Deceptive Act or Practice.
Section 500.2009 - False, Maliciously Critical, or Derogatory Statement as to Financial Condition.
Section 500.2010 - Unfair Method of Competition; Unfair or Deceptive Act or Practice.
Section 500.2011 - Unfair Methods of Competition; Unfair or Deceptive Acts or Practices.
Section 500.2012 - Unfair Methods of Competition or Deception; Combinations in Restraint of Trade.
Section 500.2013 - Violation of Chapter or Rule; Effect.
Section 500.2015 - Repealed. 1976, Act 273, Eff. Apr. 1, 1977.
Section 500.2017 - Unfair Methods of Competition or Deception; Illegal Inducements.
Section 500.2022 - Repealed. 1976, Act 273, Eff. Apr. 1, 1977.
Section 500.2023 - Automatic Insurance on Debtor Contracting Credit.
Section 500.2024 - Unfair Methods of Competition or Deception; Rebates and Special Inducements.
Section 500.2024a - Giving Merchandise to Applicants for Life Insurance.
Section 500.2024b - Construction of MCL 500.2024, 500.2066, and 500.2070.
Section 500.2028 - Examination; Investigation.
Section 500.2029 - Notice of Hearing; Opportunity to Confer; Summary Disposition.
Section 500.2039 - Finality of Order.
Section 500.2049 - Unfair Methods of Competition or Deception; Liability Under Other State Laws.
Section 500.2050 - Construction of Chapter.
Section 500.2060 - Repealed. 1986, Act 253, Eff. Dec. 31, 1987.
Section 500.2069 - Violation of MCL 500.2064 or 500.2066 as Misdemeanor; Penalty.
Section 500.2074 - Repealed. 2000, Act 486, Imd. Eff. Jan. 11, 2001.
Section 500.2078 - Agreements as to Placements of Insurance; Regulations.
Section 500.2082 - Racial Discrimination by Life Insurers Prohibited; Violation; Penalty.
Section 500.2091 - Unlawful Advertising; Notice to Supervisory Official.
Section 500.2092 - Unlawful Advertising; Failure to Cease and Desist, Procedure.
Section 500.2093 - Enforcement of Act Against Foreign or Alien Insurer; Procedure.