Sec. 249.
For the purposes of ascertaining compliance with the provisions of the insurance laws of the state or of ascertaining the business condition and practices of an insurer or proposed insurer, the commissioner, as often as he deems advisable, may initiate proceedings to examine the accounts, records, documents and transactions pertaining to:
(a) Any insurance agent, surplus line agent, general agent, adjuster, public adjuster or counselor.
(b) Any person having a contract under which he enjoys in fact the exclusive or dominant right to manage or control an insurer.
(c) Any person holding the shares of voting stock or policyholder proxies of an insurer, for the purpose of controlling the management thereof, as voting trustee or otherwise.
(d) Any person engaged in or proposing to be engaged in or assisting in the promotion or formation of an insurer or insurance holding corporation, or corporation to finance an insurer or the production of its business.
(e) A person or organization owning stock representing 10% or more of the voting shares of an insurer.
(f) Any officer or director of an insurer.
History: Add. 1967, Act 262, Eff. Nov. 2, 1967 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)
218-1956-2 - Chapter 2 the Insurance Commissioner (500.200...500.271)
Section 500.200 - Insurance Department; Establishment.
Section 500.204 - Insurance Commissioner; Salary; Oath; Bond.
Section 500.205 - Commissioner; Powers.
Section 500.206 - Insurance Commissioner; Seal, Approval, Renewal.
Section 500.208 - Office of Financial and Insurance Services; Offices; Expense; Audit.
Section 500.210 - Insurance Commissioner; Regulatory Powers.
Section 500.214 - Commissioner; Immunity From Civil Liability; Conditions.
Section 500.216 - Insurance Commissioner and Employees; Traveling and Other Expenses.
Section 500.220 - Insurance Commissioner and Employees; Service Fees, Prohibited Gifts.
Section 500.224a - Report Relating to Regulatory Fees.
Section 500.224b - Repealed. 2008, Act 440, Eff. Apr. 1, 2009.
Section 500.225a - Contract for Services, Supplies, and Materials.
Section 500.226 - Disclosure of Confidential Information; Penalty.
Section 500.228 - Examinations and Investigations of Insurers; Report of Crimes to Attorney General.
Section 500.230 - Recovery of Penalty; Disposition of Funds.
Section 500.236 - Repealed. 1992, Act 182, Imd. Eff. Oct. 1, 1992.
Section 500.238 - Insurance Commissioner; Annual Report to Governor, Contents, Publication.
Section 500.240 - Fees and Charges; Collection, Payment, and Disposition.
Section 500.244 - Judicial Review.
Section 500.246 - Repealed. 1992, Act 182, Imd. Eff. Oct. 1, 1992.
Section 500.248 - Violations of Act; Actions; Perjury.
Section 500.249a - Fingerprints Required; Costs; Providing Criminal History Records.