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Michigan Legislature
Michigan Compiled Laws Complete Through PA 93 of 2019
House: Adjourned until Wednesday, November 13, 2019 10:00:00 AM
Senate: Adjourned until Wednesday, November 13, 2019 10:00:00 AM


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Act 173 of 1958
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CREDIT INSURANCE ACT

Act 173 of 1958

AN ACT to provide for the regulation of credit life insurance and credit accident and health insurance; to define the powers and duties of the state commissioner of insurance; and to provide penalties for violations of this act.


History: 1958, Act 173, Eff. Sept. 13, 1958
Compiler's Notes: For transfer of the Department of Insurance and Office of the Commissioner on Insurance from the Department of Licensing and Regulation to the Department of Commerce, see E.R.O. No. 1991-9, compiled at MCL 338.3501 of the Michigan Compiled Laws.


© 2017 Legislative Council, State of Michigan

The People of the State of Michigan enact:

DocumentTypeDescription
Section 550.601SectionCredit insurance act; short title.
Section 550.602SectionScope of act.
Section 550.603SectionCredit insurance act; definitions.
Section 550.604SectionCredit life insurance, credit accident and health insurance; forms.
Section 550.605SectionCredit life insurance; amount.
Section 550.606SectionPeriodic indemnity payable.
Section 550.607SectionTerm; refund on termination prior to expiration.
Section 550.608SectionEvidence of insurance; policy or certificate delivery.
Section 550.609SectionPolicy or certificate; contents.
Section 550.610SectionPolicy or certificate; delivery to debtor.
Section 550.611SectionPolicy or certificate; application, contents.
Section 550.612SectionPapers filed with commissioner of issuing state.
Section 550.613SectionPapers filed with commissioner of issuing state; disapproval.
Section 550.614SectionPapers filed with commissioner of issuing state; use, hearing, prior written approval.
Section 550.615SectionPapers filed with commissioner of issuing state; withdrawal of approval.
Section 550.616SectionPapers filed with commissioner of issuing state; use after withdrawal of approval.
Section 550.617SectionPapers filed with commissioner of issuing state; judicial review.
Section 550.618SectionSchedule of premium rates; refunds; nonissuance credit.
Section 550.619SectionPolicies issuable only by authorized insurers.
Section 550.620SectionPayment of claims; claim files; group insurance claims.
Section 550.621SectionProcurement of insurance by debtor.
Section 550.622SectionRules; violation, notice of hearing, finding, order.
Section 550.623SectionViolation; penalty; license or authority, suspension or revocation.
Section 550.624SectionEffect of act; scope of act.
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