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218-1956-4
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THE INSURANCE CODE OF 1956 (EXCERPT)
Act 218 of 1956
Chapter 4
AUTHORIZATION OF INSURERS AND GENERAL REQUIREMENTS

DocumentTypeDescription
Section 500.402SectionInsurers; certificate of authority requirement.
Section 500.402aSectionTransactions of insurance requiring certificate of authority.
Section 500.402bSectionTransactions of insurance not requiring certificate of authority.
Section 500.402cSectionMotor vehicle rental company; insurance transaction; definitions.
Section 500.403SectionInsurers; authorization to do business.
Section 500.404SectionInsurers; financial conditions; compliance required.
Section 500.405SectionForeign insurer; revocation of certificate of authority; conditions; requalification for certificate of authority if control acquired; determination.
Section 500.405aSectionInsurer subject to delinquency proceedings; revocation of certificate of authority; conditions.
Section 500.405bSectionRequalification pursuant to MCL 500.405 or 500.405a; formal review.
Section 500.406SectionForeign insurer; limitation on corporate purposes and powers; election of statute; denial of admission or authority; continuation of license to transact insurance business previously authorized; exception.
Section 500.407SectionAuthorization to transact kinds of insurance; exceptions.
Section 500.407aSectionNoninsured benefit plan; offering and writing excess loss insurance; definition; authority of insurer not limited.
Section 500.408SectionInsurers; capital, surplus, or asset requirement; schedule; multiple lines; provisions for transacting certain insurance; applicability of section; compliance with MCL 500.403.
Section 500.410SectionMinimum amount of unimpaired capital and surplus; minimum amount and use of additional surplus; transacting life insurance or property insurance; continuing to transact insurance; transacting legal expense insurance; compliance with MCL 500.403.
Section 500.410aSectionBail bond surety and fidelity insurance company; authority to transact insurance.
Section 500.411SectionDeposits required to transact insurance.
Section 500.412SectionProcedure for becoming domestic insurer.
Section 500.413SectionTransfer of domicile of domestic insurer to another state; effect of transfer; approval of transfer; “U.S. branch” defined.
Section 500.414SectionCertificate of authority, agent's appointments, licenses, rates, and other items of transferring insurer continue in full force and effect; outstanding policies remain in full force and effect; filing new or existing policy forms; notice of proposed transfer; filing amendments to corporate documents.
Section 500.415SectionRules.
Section 500.416SectionSpecial deposit.
Section 500.417SectionRepealed. 1966, Act 137, Eff. Mar. 10, 1967.
Section 500.418SectionIdentification of payers subject to child support arrearages; "title IV-D agency" defined.
Section 500.422SectionRepealed. 1994, Act 226, Imd. Eff. June 27, 1994.
Section 500.424SectionAdmission of foreign or alien insurer to state; application; report of financial standing; issuance of certificate of authority; filing fees.
Section 500.425, 500.426SectionRepealed. 1992, Act 182, Imd. Eff. Oct. 1, 1992.
Section 500.430SectionRepealed. 1992, Act 182, Imd. Eff. Oct. 1, 1992.
Section 500.431SectionDefinitions.
Section 500.431aSectionState of entry by alien insurer through U.S. branch; requirements.
Section 500.431bSectionU.S. branch using state as state of entry to transact insurance; compliance.
Section 500.431cSectionTrusteed assets; value.
Section 500.432SectionTrust agreement and amendments; authentication; withdrawal of approval; form; hearing; modifications or variations; contents and provisions of trust agreement; withdrawal of trusteed assets in another state; notice; examination by commissioner; effect of refusal or neglect to comply with subsection (8); review.
Section 500.432aSectionCertificate of authority to do business; issuance or amendment to U.S. branch; proof that insurer will not violate act or charter; noncompliance.
Section 500.433SectionTrusteed assets below minimum required; proceeding against alien insurer.
Section 500.434SectionRepealed. 1972, Act 360, Imd. Eff. Jan. 9, 1973.
Section 500.435SectionCertificate of authority as evidence of authority to transact insurance; duration of certificate; certificate as property of state; prerequisites to termination of certificate.
Section 500.436SectionConditions for suspension, revocation, or limitation of certificate of authority; "insurer" defined.
Section 500.436aSectionContinuing operation of insurer transacting insurance in state or nonprofit dental corporation operating under MCL 550.351 to 550.373; standards; subscription to private rating organization not required; determination of financial condition; issuance of order by director; hearing requested by insurer.
Section 500.436bSectionCertificate of authority limited by order of commissioner.
Section 500.437SectionProceeding for suspension, revocation, or limitation of certificate of authority; notice; imposition of conditions in order of limitation.
Section 500.438SectionAnnual statement; filing; extensions; format and content; reply to inquiries; availability of report to public; penalty for failure to file statement or reply to inquiry; statement of alien insurer; "U.S. branch" defined.
Section 500.438aSectionDomestic, foreign, and alien insurers; filing annual statement with national association of insurance commissioners; foreign insurers considered in compliance with section; agents of commissioner; confidentiality of information.
Section 500.439SectionRepealed. 1992, Act 182, Imd. Eff. Oct. 1, 1992.
Section 500.440SectionRepealed. 1987, Act 261, Imd. Eff. Dec. 28, 1987.
Section 500.440aSectionCredit against tax imposed by MCL 500.476a; claim; refund; retroactive application.
Section 500.441, 500.442SectionRepealed. 1987, Act 261, Imd. Eff. Dec. 28, 1987.
Section 500.443SectionForeign insurer; payment of quarterly installments of estimated tax; filing statement with revenue commissioner.
Section 500.444SectionCollection of delinquent taxes with interest or penalty.
Section 500.445SectionDelinquency as bar to granting certificate of authority.
Section 500.446SectionRepealed. 1987, Act 261, Imd. Eff. Dec. 28, 1987.
Section 500.448, 500.449SectionRepealed. 1975, Act 232, Eff. July 2, 1976.
Section 500.450SectionRepealed. 1987, Act 261, Imd. Eff. Dec. 28, 1987.
Section 500.451SectionTaxes on unauthorized insurers; regulatory fee; payment; delinquency.
Section 500.454SectionName of insurer.
Section 500.456SectionLegal process served on resident agent effective as personal service on company, association, or group; stipulation; filing copy of appointment; fee; duration of appointment; service of process.
Section 500.457SectionRepealed. 1992, Act 182, Imd. Eff. Oct. 1, 1992.
Section 500.460SectionInsurance producer to write or place insurance policies.
Section 500.462SectionSignature of insurance producer on application for life or disability insurance.
Section 500.464SectionAdditional deposits by domestic insurers.
Section 500.470SectionRepealed. 1992, Act 182, Imd. Eff. Oct. 1, 1992.
Section 500.476SectionRepealed. 1987, Act 261, Imd. Eff. Dec. 28, 1987.
Section 500.476aSectionAlien or foreign insurers; deposit of securities or making certain payments; computation; revocation of certificate of authority; purpose of section; domestic insurer owned or controlled by alien or foreign insurer; domestic insurer as alien or foreign insurer; compliance; taxes subject to MCL 208.22d or MCL 208.1243; administration of tax; disclosure of tax return.
Section 500.476bSectionTaxes to which authorized insurer subject.
Section 500.476cSectionRepealed. 1993, Act 200, Eff. Dec. 28, 1994.
Section 500.478SectionNAIC report of activities.
Section 500.479SectionImposition of fee by NAIC.
Section 500.480SectionDefinitions.
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