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218-1956-15
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THE INSURANCE CODE OF 1956 (EXCERPT)
Act 218 of 1956
Chapter 15
INSURANCE PREMIUM FINANCE COMPANIES

DocumentTypeDescription
Section 500.1501SectionInapplicability of chapter.
Section 500.1501aSectionFinancial institutions; application of chapter.
Section 500.1502SectionInsurance premium finance companies; definitions.
Section 500.1503SectionLicense requirements; violation, penalty; fees, renewal, application.
Section 500.1504SectionLicense investigation of applicant; issuance, grounds, hearing, bond.
Section 500.1505SectionPremium finance company; license; revocation or suspension; grounds; hearing; penalty; appeal; remuneration; applicability of subsection (4).
Section 500.1506SectionPremium finance transaction records; examination; preservation.
Section 500.1507SectionInsurance commissioner; regulatory powers.
Section 500.1508SectionPremium finance agreement; requirements; specifications; items; subsidiary companies.
Section 500.1509SectionPremium finance company; authorized charges; service charge; amending original contract where balance of premium due changed.
Section 500.1510SectionInsurance premium finance agreement; delinquency charge; cancellation charge.
Section 500.1511SectionPremium finance agreement; cancellation of insurance, procedure, notice, refund.
Section 500.1512SectionPremium finance agreement; filing not required.
Section 500.1513SectionExisting companies; license, fee.
Section 500.1514SectionInsurance commissioner and employees; statement of expenses and charges, payment; employment of expert personnel.