Sec. 4454.
Any group life insurance policy may provide for a readjustment of the rate based on experience at the end of the first year or any subsequent year of insurance, which readjustment may be made retroactive for such policy year only.
History: 1956, Act 218, Eff. Jan. 1, 1957 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)
218-1956-44 - Chapter 44 Group Life Insurance (500.4400...500.4454)
Section 500.4400 - Scope of Chapter; Compliance Required.
Section 500.4405 - Group Life Insurance Policy; Issuance to Trust or Trustees; Requirements.
Section 500.4408 - National Guard Groups; Participation Authorization.
Section 500.4412 - Labor Union, Teacher and Postal Clerk Groups; Participation Authorization.
Section 500.4416 - Group Life Insurance; Groups of Borrowers or Purchasers.
Section 500.4419 - Prepaid Funeral Contracts; Group Life Insurance.
Section 500.4432 - Group Life Insurance Policy; Incontestability.
Section 500.4434 - Entire Contract; Provision; Application; Representations.
Section 500.4436 - Misstatement of Age; Provision Required.
Section 500.4438 - Individual Certificate; Notice of Conversion Rights.
Section 500.4439 - Insurance Under Group Policy; Assignment of Rights, Effect.
Section 500.4442 - New Employee; Provision Required.
Section 500.4446 - Policy Issued in Another State; Determination by Director.
Section 500.4450 - Employer Deemed Policyholder.
Section 500.4454 - Readjustment of Premium Rate; Optional Provisions.