Sec. 2923.
(1) The pool, by its plan of operation, may provide that any agent licensed to write a kind of insurance included in the definition of basic property insurance or home insurance set forth in section 2901 on behalf of any participating member, may write that kind of insurance on behalf of the pool without obtaining an additional license to represent the pool.
(2) The pool, as part of its plan of operation, shall adopt reasonable and adequate commissions to be paid to agents who write and service policies on behalf of the pool.
(3) Losses incurred by an agent relative to policies written under the provisions of this chapter shall not be used by an insurer in determining the loss ratio of its agents.
History: Add. 1971, Act 74, Eff. Aug. 1, 1971 ;-- Am. 1979, Act 145, Eff. Mar. 1, 1980 Popular Name: Act 218Popular Name: Essential Insurance
Structure Michigan Compiled Laws
Chapter 500 - Insurance Code of 1956
Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)
218-1956-29 - Chapter 29 Basic Property Insurance (500.2901...500.2954)
Section 500.2901 - Definitions.
Section 500.2910 - Inspection of Property; Requests; Operation of Inspection Bureau.
Section 500.2923 - Agents Writing Insurance on Behalf of Pool; Commissions; Losses.
Section 500.2925b - Liability; Inspection; Enforcement by Commissioner.
Section 500.2925c - Notice of Rights to Obtain Home Insurance.
Section 500.2926-500.2929 - Repealed. 1971, Act 74, Eff. Aug. 1, 1971.
Section 500.2931 - Limitation on Annual Premiums Written by or on Behalf of Pool; Premium Ratios.
Section 500.2933 - Pool Exempted From Fees and Taxes; Exception.
Section 500.2939 - Reinsurance Permitted.
Section 500.2940 - Repealed. 2000, Act 486, Imd. Eff. Jan. 11, 2001.
Section 500.2941 - Pool; Supervision, Regulation and Examination.
Section 500.2943 - Appeal to Insurance Commissioner; Hearing; Order.
Section 500.2950 - Repealed. 1971, Act 74, Eff. Aug. 1, 1971.