reglab/housing_qa huggingface dataset:
MI Comp L § 500.433 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-4 - Chapter 4 Authorization of Insurers and General Requirements (500.402...500.480)|Section 500.433 - Trusteed Assets Below Minimum Required; Proceeding Against Alien Insurer.

500.433 Trusteed assets below minimum required; proceeding against alien insurer. Sec. 433.  If it appears to the commissioner from any annual or quarterly statement or any other report that a U.S. branch's trusteed assets are below the minimum required to be maintained pursuant to section 431c, the commissioner may proceed against the alien insurer pursuant to the provisions of chapter 81 as an insurer whose condition no longer meets the requirements of section 403. History: Add. 1994, Act 227, Imd. Eff. June 27, 1994 Popular Name: Act 218
MI Comp L § 500.434 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-4 - Chapter 4 Authorization of Insurers and General Requirements (500.402...500.480)|Section 500.434 - Repealed. 1972, Act 360, Imd. Eff. Jan. 9, 1973.

500.434 Repealed. 1972, Act 360, Imd. Eff. Jan. 9, 1973. Compiler's Notes: The repealed section pertained to grounds for revocation of certificates of authority.Popular Name: Act 218
MI Comp L § 500.435 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-4 - Chapter 4 Authorization of Insurers and General Requirements (500.402...500.480)|Section 500.435 - Certificate of Authority as Evidence of Authority to Transact Insurance; Duration of Certificate; Certificate as Property of State; Prerequisites to Termination of Certificate.

500.435 Certificate of authority as evidence of authority to transact insurance; duration of certificate; certificate as property of state; prerequisites to termination of certificate. Sec. 435.  (1) The certificate of authority issued by the commissioner to an insurer is evidence of its authority to transact the kind or kinds of insurance specified in the certificate in this state.   (2) A certificate of authority shall remain in force until terminated at the request of the insurer or suspended or revoked by the commissioner.  (3) A certificate of authority at all times remains the property of the state. Upon termination at the request of the insurer or revocation by the commissioner, the certificate of authority shall be delivered promptly by the insurer to the commissioner.  (4) The commissioner shall not grant the request of an insurer to terminate its certificate of authority as long as the insurer has any obligations outstanding under a policy of insurance to policyholders or claimants who are residents of this state unless either of the following occurs:  (a) The insurer has deposited with the state treasurer securities acceptable to the commissioner in an amount equal to its liabilities including its reserves as required by this act in respect to its business in this state, as computed by the commissioner, for the sole benefit of its policyholders and creditors resident in this state. The deposits shall be held by the state treasurer and administered as directed by section 464.  (b) The insurer has made other provisions satisfactory to the commissioner to secure obligations to Michigan policyholders or claimants. History: Add. 1972, Act 360, Imd. Eff. Jan. 9, 1973 ;-- Am. 1992, Act 182, Imd. Eff. Oct. 1, 1992 Popular Name: Act 218
MI Comp L § 500.436 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-4 - Chapter 4 Authorization of Insurers and General Requirements (500.402...500.480)|Section 500.436 - Conditions for Suspension, Revocation, or Limitation of Certificate of Authority; "Insurer" Defined.

500.436 Conditions for suspension, revocation, or limitation of certificate of authority; "insurer" defined.Sec. 436.  (1) The director may suspend, revoke, or limit the certificate of authority of an insurer if he or she determines that any of the following conditions exist:  (a) The insurer no longer meets the requirements of this act respecting capital, surplus, deposits, or assets.  (b) The insurer's condition is such that it is no longer safe, reliable, or entitled to public confidence or is unsound, or the insurer is using financial methods and practices in the conduct of its business that render further transaction of insurance by the insurer in this state hazardous to policyholders, creditors, or the public.  (c) The insurer's certificate of authority to transact business in its state of domicile, or in the case of an alien insurer, in its state of entry, has been suspended or revoked.  (d) The insurer has failed, after written request by the director, to remove or discharge an officer or director whose record of business conduct does not satisfy the requirements of section 436a(1)(k) or 1315(1)(f) or who has been convicted of any crime involving fraud, dishonesty, or like moral turpitude.  (e) The insurer fails to promptly comply with sections 222 or 438.   (f) The insurer has failed for an unreasonable period to pay any final judgment rendered against it in this state on any policy, bond, recognizance, or undertaking issued or guaranteed by it.  (g) The insurer has failed, within 30 days after notice of delinquency from the director, to cure its failure to pay the taxes, fees, assessments, or expenses required by this act.  (h) The insurer has violated any other provision of this act that provides for suspension or revocation of its certificate of authority.  (2) As used in this section, "insurer" includes a nonprofit dental care corporation operating under 1963 PA 125, MCL 550.351 to 550.373. History: Add. 1972, Act 360, Imd. Eff. Jan. 9, 1973 ;-- Am. 1992, Act 182, Imd. Eff. Oct. 1, 1992 ;-- Am. 2016, Act 276, Imd. Eff. July 1, 2016 Popular Name: Act 218
MI Comp L § 500.436b (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-4 - Chapter 4 Authorization of Insurers and General Requirements (500.402...500.480)|Section 500.436b - Certificate of Authority Limited by Order of Commissioner.

500.436b Certificate of authority limited by order of commissioner. Sec. 436b.  If the commissioner finds on the basis of appropriate investigation and public hearings that a type of insurance or a subset of a type of insurance or of other contracts entered into by insurers authorized to do business in this state present a degree of risk or hazard to the insurer not adequately taken into account by insurance accounting techniques or normal methods of measuring insurance or other contractual risk, the commissioner may conclude that only those authorized insurers possessed of a sufficient degree of financial strength, measured by relevant methods, techniques, analysis, rating systems, and other appropriate financial standards uniformly applied, may engage with safety to policyholders, creditors, or the public in assuming obligations of such a type or subset of a type of insurance or other contracts. In these circumstances, the commissioner may limit by appropriate order the certificate of authority of an insurer that does not possess such a sufficient degree of financial strength so as to preclude prospectively the authority of the insurer to engage in assuming obligations in this state of such a type or subset of a type of insurance or other contracts. History: Add. 1992, Act 182, Imd. Eff. Oct. 1, 1992 Popular Name: Act 218
MI Comp L § 500.437 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-4 - Chapter 4 Authorization of Insurers and General Requirements (500.402...500.480)|Section 500.437 - Proceeding for Suspension, Revocation, or Limitation of Certificate of Authority; Notice; Imposition of Conditions in Order of Limitation.

500.437 Proceeding for suspension, revocation, or limitation of certificate of authority; notice; imposition of conditions in order of limitation. Sec. 437.  (1) A proceeding to suspend, revoke, or limit an insurer's certificate of authority shall be initiated by the commissioner by granting the insurer an opportunity to show compliance with all lawful requirements as provided under section 92 of the administrative procedures act of 1969, Act No. 306 of the Public Acts of 1969, being section 24.292 of the Michigan Compiled Laws. If the commissioner subsequently determines pursuant to section 436 to suspend, revoke, or limit the insurer's certificate of authority, the determination and the reasons for the determination shall be stated in the order of suspension, revocation, or limitation.  (2) The insurer aggrieved by the commissioner's determination and order issued under section 436 shall be entitled to a contested case hearing pursuant to Act No. 306 of the Public Acts of 1969, being sections 24.201 to 24.328 of the Michigan Compiled Laws. During the pendency of the contested case proceeding, the commissioner's order shall remain in effect, except as modified by the commissioner or as stayed by a court pursuant to section 244.   (3) The commissioner's order and determination may be confirmed or modified by the commissioner as the result of a contested case hearing and shall be the final decision or order in the contested case.  (4) Upon suspension, revocation, or limitation of an insurer's certificate of authority, if the commissioner considers it necessary or desirable for the protection of the public, he or she may mail notice of the action to the insurer's agents and publish notice of the suspension, revocation, or limitation in 1 or more newspapers of general circulation in the state.  (5) The commissioner's order of limitation may restrict the solicitation of new business within the state, may restrict the renewal of business in force within the state, may require the reinsurance of business in force within the state and, if reinsurance is not effected within 30 days after the order requiring reinsurance is issued, may require cancellation of business in force within the state and may impose such other conditions to continued authorization as are reasonably necessary to protect policyholders, creditors, and the public.  History: Add. 1972, Act 360, Imd. Eff. Jan. 9, 1973 ;-- Am. 1992, Act 182, Imd. Eff. Oct. 1, 1992 Popular Name: Act 218
MI Comp L § 500.438a (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-4 - Chapter 4 Authorization of Insurers and General Requirements (500.402...500.480)|Section 500.438a - Domestic, 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.

500.438a Domestic, 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. Sec. 438a.  (1) Each domestic, foreign, and alien insurer authorized to transact insurance in this state shall file annually on or before March 1 of each year, with the national association of insurance commissioners a copy of its annual statement along with additional filings for the preceding year as prescribed by the commissioner. The information filed with the national association of insurance commissioners shall be in the same format and scope as that required by the commissioner and shall include the signed jurat page and any actuarial certification. An amendment or addendum to the annual statement filing subsequently filed with the commissioner shall also be filed with the national association of insurance commissioners.  (2) A foreign insurer that is domiciled in a state that has a law substantially similar to subsection (1) shall be considered in compliance with this section.   (3) In the absence of actual malice, members of the national association of insurance commissioners, their duly authorized committees, subcommittees, and task forces, their delegates, national association of insurance commissioners employees, and all others charged with the responsibility of collecting, reviewing, analyzing, and disseminating the information developed from the filing of an annual statement shall be acting as the commissioner's agents under the authority of this act and shall not be subject to civil liability for libel, slander, or any other cause of action because of their collection, review, and analysis or dissemination of the data and information collected from the filings.  (4) All financial analysis ratios and examination synopses concerning insurers that are submitted to the commissioner by the national association of insurance commissioners' insurance regulatory information system are confidential and may not be disclosed by the commissioner or those acting under the commissioner's authority. History: Add. 1992, Act 182, Imd. Eff. Oct. 1, 1992 Popular Name: Act 218
MI Comp L § 500.439 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-4 - Chapter 4 Authorization of Insurers and General Requirements (500.402...500.480)|Section 500.439 - Repealed. 1992, Act 182, Imd. Eff. Oct. 1, 1992.

500.439 Repealed. 1992, Act 182, Imd. Eff. Oct. 1, 1992. Compiler's Notes: The repealed section pertained to reciprocal insurers, annual report, and fee.Popular Name: Act 218
MI Comp L § 500.440 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-4 - Chapter 4 Authorization of Insurers and General Requirements (500.402...500.480)|Section 500.440 - Repealed. 1987, Act 261, Imd. Eff. Dec. 28, 1987.

500.440 Repealed. 1987, Act 261, Imd. Eff. Dec. 28, 1987. Compiler's Notes: The repealed section pertained to specific premium tax on business written by foreign insurer.Popular Name: Act 218
MI Comp L § 500.440a (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-4 - Chapter 4 Authorization of Insurers and General Requirements (500.402...500.480)|Section 500.440a - Credit Against Tax Imposed by MCL 500.476a; Claim; Refund; Retroactive Application.

500.440a Credit against tax imposed by MCL 500.476a; claim; refund; retroactive application.Sec. 440a.  (1) Beginning August 3, 1987, an insurer that is subject to the worker's disability compensation act of 1969, 1969 PA 317, MCL 418.101 to 418.941, may credit against the tax imposed by section 476a an amount equal to the amount paid during that tax year by the insurer under section 352 of the worker's disability compensation act of 1969, 1969 PA 317, MCL 418.352, as certified by the director of the bureau of worker's disability compensation under section 391 of the worker's disability compensation act of 1969, 1969 PA 317, MCL 418.391.  (2) The credit under this section shall be claimed in the manner prescribed by the revenue commissioner.  (3) A taxpayer claiming a credit under this section shall claim a portion of the credit allowed by this section equal to the payments made during a calendar quarter pursuant to section 352 of the worker's disability compensation act of 1969, 1969 PA 317, MCL 418.352, against the quarterly payments required under section 443. The state treasurer shall refund a credit in excess of a quarterly payment to the taxpayer on a quarterly basis within 60 days after receipt of a properly completed quarterly filing as required by this act. A subsequent increase or decrease in the amount claimed for payments made by the insurer or self-insurer shall be reflected in the amount of the credit taken for the calendar quarter in which the amount of the adjustment is finalized.  (4) Except as otherwise provided in this subsection, the state treasurer shall refund, without interest, a credit under this section that is in excess of the insurer's tax liability for the calendar year to the insurer within 60 days after receipt of a properly completed annual tax return as required by this act. The state treasurer shall only make a refund to an insurer whose tax liability or fee amount under this act is greater than its tax liability under the former single business tax act, 1975 PA 228, or the Michigan business tax act, 2007 PA 36, MCL 208.1101 to 208.1601.  (5) This section shall be applied retroactively to August 3, 1987. History: Add. 1990, Act 256, Imd. Eff. Oct. 15, 1990 ;-- Am. 2007, Act 187, Imd. Eff. Dec. 21, 2007 Compiler's Notes: Former MCL 500.440a, which pertained to credit against premium tax by foreign insurer, was repealed by Act 261 of 1987, Imd. Eff. Dec. 28, 1987.Popular Name: Act 218
MI Comp L § 500.441, 500.442 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-4 - Chapter 4 Authorization of Insurers and General Requirements (500.402...500.480)|Section 500.441, 500.442 - Repealed. 1987, Act 261, Imd. Eff. Dec. 28, 1987.

500.441, 500.442 Repealed. 1987, Act 261, Imd. Eff. Dec. 28, 1987. Compiler's Notes: The repealed sections pertained to tax on premiums, deductions, and deposit premiums.Popular Name: Act 218
MI Comp L § 500.443 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-4 - Chapter 4 Authorization of Insurers and General Requirements (500.402...500.480)|Section 500.443 - Foreign Insurer; Payment of Quarterly Installments of Estimated Tax; Filing Statement With Revenue Commissioner.

500.443 Foreign insurer; payment of quarterly installments of estimated tax; filing statement with revenue commissioner.Sec. 443.  (1) Before April 30, July 31, October 31, and January 31 of each year, each foreign insurer admitted to do insurance business in this state and subject to the tax prescribed in section 476a shall pay to the state treasurer, accompanied by forms prescribed by the revenue commissioner, quarterly installments of the insurer's total estimated tax for the current year. Failure of an insurer to make quarterly payments of at least 1/4 of either of the following shall subject the insurer to the penalty and interest prescribed in 1941 PA 122, MCL 205.1 to 205.31:  (a) If the preceding year's liability was $20,000.00 or less, the total tax liability of the insurer for the previous calendar year. For purposes of this subdivision, an insurer's tax liability for the previous calendar year shall be considered to be the amount of tax imposed that year under section 476a or under the former single business tax act, 1975 PA 228, or the Michigan business tax act, 2007 PA 36, MCL 208.1101 to 208.1601, whichever is greater.  (b) Eighty-five percent of the actual tax liability of the insurer for the current calendar year.  (2) Annually before March 1, each insurer described in subsection (1) shall make and file with the revenue commissioner its statement showing all of the data necessary for computation of its taxes under this chapter, upon forms and including information that the revenue commissioner prescribes, and shall pay any additional amount due for the preceding calendar year. The failure to file the statement with the revenue commissioner does not excuse or relieve an insurer from the payment of the tax that is justly due. History: 1956, Act 218, Eff. Jan. 1, 1957 ;-- Am. 1959, Act 37, Eff. Mar. 19, 1960 ;-- Am. 1971, Act 54, Imd. Eff. June 30, 1971 ;-- Am. 1981, Act 110, Imd. Eff. July 17, 1981 ;-- Am. 1987, Act 261, Imd. Eff. Dec. 28, 1987 ;-- Am. 1990, Act 256, Imd. Eff. Oct. 15, 1990 ;-- Am. 2007, Act 187, Imd. Eff. Dec. 21, 2007 Popular Name: Act 218
MI Comp L § 500.444 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-4 - Chapter 4 Authorization of Insurers and General Requirements (500.402...500.480)|Section 500.444 - Collection of Delinquent Taxes With Interest or Penalty.

500.444 Collection of delinquent taxes with interest or penalty. Sec. 444.  The taxes prescribed in this code may be collected, in case of delinquency, together with any interest or penalty on those taxes, by the revenue commissioner, out of money or by the sale of securities, deposited with the state treasurer by the delinquent insurer or if securities or money are not deposited, by an action in a court of competent jurisdiction as for the collection of a debt to the state. In such an action the computation of the revenue commissioner duly sworn to is prima facie evidence of the amount of the computation. History: 1956, Act 218, Eff. Jan. 1, 1957 ;-- Am. 1959, Act 37, Eff. Mar. 19, 1960 ;-- Am. 1967, Act 111, Eff. Nov. 2, 1967 ;-- Am. 1971, Act 54, Imd. Eff. June 30, 1971 ;-- Am. 1990, Act 256, Imd. Eff. Oct. 15, 1990 Popular Name: Act 218
MI Comp L § 500.445 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-4 - Chapter 4 Authorization of Insurers and General Requirements (500.402...500.480)|Section 500.445 - Delinquency as Bar to Granting Certificate of Authority.

500.445 Delinquency as bar to granting certificate of authority. Sec. 445.  A certificate of authority shall not be granted to an insurer or to its agents if the insurer is delinquent in the payment of the taxes or penalties prescribed in this chapter. History: 1956, Act 218, Eff. Jan. 1, 1957 ;-- Am. 1967, Act 111, Eff. Nov. 2, 1967 ;-- Am. 1971, Act 54, Imd. Eff. June 30, 1971 ;-- Am. 1981, Act 110, Imd. Eff. July 17, 1981 ;-- Am. 1990, Act 256, Imd. Eff. Oct. 15, 1990 Popular Name: Act 218
MI Comp L § 500.446 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-4 - Chapter 4 Authorization of Insurers and General Requirements (500.402...500.480)|Section 500.446 - Repealed. 1987, Act 261, Imd. Eff. Dec. 28, 1987.

500.446 Repealed. 1987, Act 261, Imd. Eff. Dec. 28, 1987. Compiler's Notes: The repealed section pertained to premium tax on foreign reciprocal insurer.Popular Name: Act 218
MI Comp L § 500.448, 500.449 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-4 - Chapter 4 Authorization of Insurers and General Requirements (500.402...500.480)|Section 500.448, 500.449 - Repealed. 1975, Act 232, Eff. July 2, 1976.

500.448, 500.449 Repealed. 1975, Act 232, Eff. July 2, 1976. Compiler's Notes: The repealed sections pertained to privilege fees of domestic insurers.Popular Name: Act 218
MI Comp L § 500.450 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-4 - Chapter 4 Authorization of Insurers and General Requirements (500.402...500.480)|Section 500.450 - Repealed. 1987, Act 261, Imd. Eff. Dec. 28, 1987.

500.450 Repealed. 1987, Act 261, Imd. Eff. Dec. 28, 1987. Compiler's Notes: The repealed section pertained to penalty for delinquency in payment of privilege fee.Popular Name: Act 218