reglab/housing_qa huggingface dataset:
MI Comp L § 500.451 (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 500.451 - Taxes on Unauthorized Insurers; Regulatory Fee; Payment; Delinquency.

500.451 Taxes on unauthorized insurers; regulatory fee; payment; delinquency. Sec. 451.  Any unauthorized insurer transacting insurance in this state shall be subject to a tax of 2% of premiums written in this state and to an additional regulatory fee of 0.5% on premiums written in this state. The tax required by this section shall be considered delinquent if not paid within 30 days after a copy of the computation of the tax by the commissioner is delivered to the insurer in the manner prescribed by law for the service of process. History: Add. 1967, Act 111, Eff. Nov. 2, 1967 ;-- Am. 1987, Act 261, Imd. Eff. Dec. 28, 1987 ;-- Am. 1994, Act 228, Imd. Eff. June 30, 1994 Popular Name: Act 218
MI Comp L § 500.454 (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 500.454 - Name of Insurer.

500.454 Name of insurer.Sec. 454.  (1) Except as otherwise provided in this section, the department shall not authorize an insurer to do business in this state if its name is the same as or closely resembles the name of another insurer organized under or authorized to do business under the laws of this state. However, the department may authorize an insurer to do business in this state if it adds to its corporate name a word, abbreviation, or other distinctive and distinguishing element.   (2) The department shall issue a certificate of authority to an insurer in the name applied for, and the insurer shall use that name in all its dealings with the department and in the conduct of its affairs in this state. An insurer shall identify the incorporated name of the insurer in any document used or advertising offered in this state.   (3) The director may disapprove the use of a name of an insurer or health maintenance organization if the director determines that the name is deceptive or misleading. History: 1956, Act 218, Eff. Jan. 1, 1957 ;-- Am. 1987, Act 168, Imd. Eff. Nov. 9, 1987 ;-- Am. 2016, Act 276, Imd. Eff. July 1, 2016 Popular Name: Act 218
MI Comp L § 500.456 (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 500.456 - Legal 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.

500.456 Legal 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. Sec. 456.  (1) Every insurance company, association, risk retention group, or purchasing group not organized under the statutes of this state shall file with the commissioner, as a condition precedent to doing business in this state, the name and address of a resident agent upon which any local process affecting the company, association, or group may be served. Service upon the resident agent designated under this section is service on the company, association, or group. This designation shall remain in force as long as any liability remains within this state.  (2) As a condition of doing business in this state, an unauthorized insurer who does not have a resident agent shall file with the commissioner an irrevocable written stipulation agreeing that any legal process affecting the company, association, or group that is served upon the commissioner or his or her designee has the same effect as if personally served upon the company, association, or group. A copy of the appointment shall be filed with the commissioner. Service upon the commissioner is service upon the company, association, or group and the fee for service is $10.00 payable at time of service. This appointment remains in force as long as any liability remains within this state.  (3) Every insurance company not organized under the statutes of this state that provides a surety bond required or permitted under the laws of the United States shall irrevocably appoint the commissioner or his or her designee as the company's agent to receive service of process in any action in United States district court on the surety bond. Service upon the commissioner is service upon the company, and the commissioner may establish a reasonable fee, payable at the time of service, for the acceptance of service. Upon receipt of service of process, the commissioner or his or her designee shall forward the service of process to the resident agent designated under subsection (1). Service of process on the commissioner under this subsection only applies for a bond provided within this state and is in addition to and not in place of any other method of service authorized by law or court rule. History: 1956, Act 218, Eff. Jan. 1, 1957 ;-- Am. 1981, Act 1, Imd. Eff. Mar. 30, 1981 ;-- Am. 1989, Act 214, Eff. Jan. 1, 1990 ;-- Am. 2002, Act 26, Imd. Eff. Mar. 6, 2002 ;-- Am. 2002, Act 664, Eff. Mar. 31, 2003 Popular Name: Act 218
MI Comp L § 500.457 (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 500.457 - Repealed. 1992, Act 182, Imd. Eff. Oct. 1, 1992.

500.457 Repealed. 1992, Act 182, Imd. Eff. Oct. 1, 1992. Compiler's Notes: The repealed section pertained to service of process on insurance commissioner.Popular Name: Act 218
MI Comp L § 500.460 (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 500.460 - Insurance Producer to Write or Place Insurance Policies.

500.460 Insurance producer to write or place insurance policies.Sec. 460.  Except as otherwise provided in section 1202, an insurer authorized to transact business in this state shall not write, place, or cause to be written or placed an insurance policy or insurance contract in this state, except through an insurance producer. History: 1956, Act 218, Eff. Jan. 1, 1957 ;-- Am. 1963, Act 37, Eff. Sept. 6, 1963 ;-- Am. 1972, Act 133, Eff. Mar. 30, 1973 ;-- Am. 2016, Act 276, Imd. Eff. July 1, 2016 Popular Name: Act 218
MI Comp L § 500.462 (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 500.462 - Signature of Insurance Producer on Application for Life or Disability Insurance.

500.462 Signature of insurance producer on application for life or disability insurance.Sec. 462.  Except as otherwise provided in this section, an application for life or disability insurance must bear the signature of an insurance producer. This section does not apply to an application for insurance through the insurer's internet website if the website contains a statement that the applicant may use an insurance producer to assist with the application at no cost to the applicant. History: 1956, Act 218, Eff. Jan. 1, 1957 ;-- Am. 1972, Act 133, Eff. Mar. 30, 1973 ;-- Am. 2016, Act 276, Imd. Eff. July 1, 2016 Popular Name: Act 218
MI Comp L § 500.464 (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 500.464 - Additional Deposits by Domestic Insurers.

500.464 Additional deposits by domestic insurers. Sec. 464.  (1) Whenever a domestic insurer desiring to do business in any other state or in any foreign country is required to make or maintain a deposit of cash or securities or both in some state other than or in addition to the deposit required to be made with the state treasurer under this act, the other or additional deposit may be made and maintained with the treasurer of this state.  (2) Deposits by insurers with the state treasurer pursuant to this act or in compliance with the law of another state or a foreign country, shall be held for the purposes specified in the applicable law. Special deposits by insurers with the state treasurer shall be held for the purposes specified by the insurer in making the deposit.  (3) Securities deposited with the state treasurer shall be indorsed to bearer or to the state treasurer in the name of his office. The state treasurer shall not enforce, sell or assign securities except when necessary to fulfill the purposes of the deposit and except to return the securities to the depositing insurer when return is permitted.  (4) The insurer may collect and receive dividends and interest on the securities deposited with the state treasurer and may exchange securities for other acceptable securities.  (5) If the market value of securities held by the state treasurer becomes less than the required amount of the deposit, the commissioner may suspend or revoke the authority of the insurer to transact insurance in this state until the deficiency has been covered by the deposit of additional acceptable securities.  (6) Deposits required by this act may be released to the depositing insurer to the extent the insurer demonstrates to the satisfaction of the commissioner that the deposited securities are no longer necessary to cover the obligations of the insurer, if the insurer no longer is transacting business within the state. Other deposits or portions of other deposits may be released to the depositing insurer at any time to the extent that the insurer has demonstrated to the satisfaction of the commissioner that the deposited securities no longer are necessary to satisfy the purposes of the deposit. History: Add. 1972, Act 360, Imd. Eff. Jan. 9, 1973 Popular Name: Act 218
MI Comp L § 500.470 (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 500.470 - Repealed. 1992, Act 182, Imd. Eff. Oct. 1, 1992.

500.470 Repealed. 1992, Act 182, Imd. Eff. Oct. 1, 1992. Compiler's Notes: The repealed section pertained to deficiency in life insurer assets.Popular Name: Act 218
MI Comp L § 500.476 (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 500.476 - Repealed. 1987, Act 261, Imd. Eff. Dec. 28, 1987.

500.476 Repealed. 1987, Act 261, Imd. Eff. Dec. 28, 1987. Compiler's Notes: The repealed section pertained to deposit of securities for protection of policyholders.Popular Name: Act 218
MI Comp L § 500.476b (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 500.476b - Taxes to Which Authorized Insurer Subject.

500.476b Taxes to which authorized insurer subject.Sec. 476b.  Authorized insurers are subject to the tax as provided in section 476a if applicable or 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. History: Add. 1987, Act 261, Imd. Eff. Dec. 28, 1987 ;-- Am. 2007, Act 187, Imd. Eff. Dec. 21, 2007 Popular Name: Act 218
MI Comp L § 500.476c (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 500.476c - Repealed. 1993, Act 200, Eff. Dec. 28, 1994.

500.476c Repealed. 1993, Act 200, Eff. Dec. 28, 1994. Compiler's Notes: The repealed section pertained to payment of fee and legal status of accident fund.Popular Name: Act 218
MI Comp L § 500.479 (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 500.479 - Imposition of Fee by Naic.

500.479 Imposition of fee by NAIC. Sec. 479.  (1) An insurer domiciled in this state and authorized to transact insurance in this state is not required and cannot be compelled to pay any fee imposed by the NAIC, unless the fee is authorized by an order of the commissioner pursuant to the administrative procedures act of 1969, 1969 PA 306, MCL 24.201 to 24.328.  (2) In determining whether to authorize the payment of a fee imposed by the NAIC, the commissioner shall consider the NAIC's annual report required under section 478, any legislative oversight reports, records, or findings transmitted by the senate and house of representatives standing committees on insurance issues under section 478, and the following factors:  (a) How the NAIC dedicates the use of the fees, including the degree to which any solvency-related revenue is improperly used to subsidize NAIC functions other than solvency oversight.   (b) The degree to which fees imposed by the NAIC are based on an insurer's annual amount of premium volume, rather than the cost of a service rendered by the NAIC.   (c) Whether the NAIC has exceeded its legal authority, as determined by an examination of the fiscal report required under section 478, as well as any other factors considered appropriate by the commissioner.  (d) The level of accountability shown by the NAIC to legislative and regulatory authorities.   (e) The effect of NAIC standards on state sovereignty and innovation.  (f) Whether the NAIC determines the state's accreditation status solely on the basis of its regulatory effectiveness.  (g) Whether NAIC proceedings and decision making are open and publicly accessible.  (3) An order issued under this section shall include a detailed explanation of the commissioner's findings concerning the factors listed in subsection (2).  (4) The commissioner may by an appropriate order authorize or prohibit, in whole or in part, the payment of a fee imposed by the NAIC. The commissioner may rescind or modify, in whole or in part, an order issued by the commissioner under this section as circumstances warrant. History: Add. 1998, Act 279, Imd. Eff. July 27, 1998 Popular Name: Act 218
MI Comp L § 500.480 (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 500.480 - Definitions.

500.480 Definitions. Sec. 480.  As used in sections 478 and 479:  (a) "Fee" means financial data base fees, annual statement filing fees, securities valuation fees, user fees, and any other financial assessment or charge of any kind imposed directly or indirectly by the NAIC.  (b) "NAIC" means the national association of insurance commissioners.  (c) "NAIC standard" means a directive; financial annual statement requirement; model act; model regulation; issue paper; market conduct or financial examination report or requirement; accounting practice, procedure, or reporting standard; securities valuation requirement; or any report, action, or program of any kind promulgated by the NAIC, or a committee, task force, working group, or advisory committee of the NAIC.  (d) "Solvency oversight" means an activity directly related to regulating the financial condition of an insurer. Solvency oversight does not include an activity related to market conduct regulation, market regulatory support, or general regulatory support.  (e) "Solvency-related revenue" means only financial data base fees, annual statement fees, and securities valuation fees. History: Add. 1998, Act 279, Imd. Eff. July 27, 1998 Popular Name: Act 218
MI Comp L § 500.501 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-5 - Chapter 5 Privacy of Financial Information (500.501...500.547)|Section 500.501 - Scope of Chapter.

500.501 Scope of chapter. Sec. 501.  (1) This chapter applies to the treatment of nonpublic personal financial information about individuals who obtain or are claimants or beneficiaries of products or services primarily for personal, family, or household purposes from licensees whether through an individual or group plan. This chapter does not apply to information about companies or about individuals who obtain products or services for business, commercial, or agricultural purposes.  (2) This chapter does not modify, limit, or supersede any provision of section 1243.  (3) This chapter does not modify, limit, or supersede statute or rules governing the confidentiality or privacy of individually identifiable health and medical information, including, but not limited to, all of the following:  (a) Section 2157 of the revised judicature act of 1961, 1961 PA 236, MCL 600.2157.  (b) Section 1750 of the mental health code, 1974 PA 258, MCL 330.1750.  (c) The public health code, 1978 PA 368, MCL 333.1101 to 333.25211.  (d) Section 406 of the nonprofit health care corporation reform act, 1980 PA 350, MCL 550.1406.  (e) Sections 410 and 492A of the Michigan penal code, 1931 PA 328, MCL 750.410 and 750.492a.  (f) Section 13 of the freedom of information act, 1976 PA 442, MCL 15.243.  (g) Section 34 of the third party administrator act, 1984 PA 218, MCL 550.934. History: Add. 2001, Act 24, Imd. Eff. June 18, 2001 Popular Name: Act 218
MI Comp L § 500.505 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-5 - Chapter 5 Privacy of Financial Information (500.501...500.547)|Section 500.505 - Notice and Opt Out Requirements.

500.505 Notice and opt out requirements. Sec. 505.  (1) A licensee is not required to provide the notice and opt out requirements for nonpublic personal financial information under this chapter if the licensee is an employee, agent, or other representative of a principal and all of the following are met:  (a) The principal is another licensee.  (b) The principal otherwise complies with and provides the notices required by this chapter.  (c) The licensee does not disclose any nonpublic personal information to any person other than the principal or its affiliates as provided in this chapter.  (2) A surplus lines broker or surplus lines insurer is considered to be in compliance with the notice and opt out requirements for nonpublic personal financial information under this chapter if all of the following are met:  (a) The broker or insurer does not disclose nonpublic personal information of a consumer or a customer to nonaffiliated third parties for any purpose, including joint servicing or marketing under section 535, except as permitted by section 537 or 539.  (b) The broker or insurer delivers a notice to the consumer at the time a customer relationship is established on which the following is printed in 16-point type:  PRIVACY NOTICE  "Neither the U.S. brokers that handled this insurance nor the insurers that have underwritten this insurance will disclose nonpublic personal information concerning the buyer to nonaffiliates of the brokers or insurers except as permitted by law.". History: Add. 2001, Act 24, Imd. Eff. June 18, 2001 Popular Name: Act 218
MI Comp L § 500.507 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-5 - Chapter 5 Privacy of Financial Information (500.501...500.547)|Section 500.507 - Privacy Policies and Practices; Notice.

500.507 Privacy policies and practices; notice. Sec. 507.  (1) Beginning July 1, 2001, a licensee shall provide a clear and conspicuous notice that accurately reflects its privacy policies and practices to all of the following:  (a) An individual who on or after July 1, 2001 becomes the licensee's customer, not later than when the licensee establishes a customer relationship, except as provided in section 511.  (b) An individual who was the licensee's customer before July 1, 2001, either at the next regularly scheduled contact with that customer but not later than July 1, 2002, so long as the licensee does not disclose any nonpublic personal financial information about the customer to any nonaffiliated third party other than as authorized by sections 537 and 539 or annually in accordance with section 513 if the licensee provided a notice before July 1, 2001 and that notice was consistent with the requirements of this chapter.  (c) A consumer, before the licensee discloses any nonpublic personal financial information about the consumer to any nonaffiliated third party, if the licensee makes such a disclosure other than as authorized by sections 537 and 539.  (2) A licensee is not required to provide an initial notice to a consumer under subsection (1) if the licensee meets any of the following:  (a) The licensee does not disclose any nonpublic personal financial information about that consumer to any nonaffiliated third party, other than as authorized by sections 537 and 539, and the licensee does not have a customer relationship with the consumer.  (b) A notice has been provided to that consumer by an affiliated licensee, as long as the notice clearly identifies all licensees to whom the notice applies and is accurate with respect to the licensee and the other institutions. History: Add. 2001, Act 24, Imd. Eff. June 18, 2001 Popular Name: Act 218