reglab/housing_qa huggingface dataset:
MI Comp L § 500.1203 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-12 - Chapter 12 Agents, Solicitors, Adjusters, and Counselors (500.1200...500.1247)|Section 500.1203 - Authority of Insurance Producer for Fraternal Benefit Society; Authority of Attorney-in-Fact of Reciprocal or Inter-Insurance Exchange.

500.1203 Authority of insurance producer for fraternal benefit society; authority of attorney-in-fact of reciprocal or inter-insurance exchange. Sec. 1203.  (1) A person may act as an insurance producer only for a fraternal benefit society authorized to transact insurance in this state without being licensed as an insurance producer if less than 50% of his or her time is devoted to the solicitation and procurement of insurance contracts for the society. A person who in the preceding calendar year solicits or procures life insurance contracts on behalf of any society in an amount of insurance in excess of $50,000.00, or, in case of any other kind of insurance that the society might write, on the persons of more than 25 individuals and who has received a commission or other compensation for the sale of that insurance is conclusively presumed to be devoting 50% of his or her time to the solicitation or procurement of insurance contracts for the society. An insurance producer for a fraternal benefit society authorized to transact insurance in this state before March 1, 2002 may, upon application to the commissioner before March 1, 2003, be licensed as an insurance producer to represent that fraternal benefit society without written examination.  (2) An attorney-in-fact of a reciprocal or of an inter-insurance exchange may act as an insurance producer for the reciprocal or exchange. History: Add. 1972, Act 133, Eff. Mar. 30, 1973 ;-- Am. 2001, Act 228, Eff. Mar. 1, 2002 Popular Name: Act 218
MI Comp L § 500.1204b (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-12 - Chapter 12 Agents, Solicitors, Adjusters, and Counselors (500.1200...500.1247)|Section 500.1204b - Repealed. 2017, Act 67, Imd. Eff. June 30, 2017.

500.1204b Repealed. 2017, Act 67, Imd. Eff. June 30, 2017. Compiler's Notes: The repealed section pertained to creation of insurance education advisory council.Popular Name: Act 218
MI Comp L § 500.1204d (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-12 - Chapter 12 Agents, Solicitors, Adjusters, and Counselors (500.1200...500.1247)|Section 500.1204d - Continuing Education Fund; Creation; Administration; Disposition and Reversion of Funds; Funding of Shortfall.

500.1204d Continuing education fund; creation; administration; disposition and reversion of funds; funding of shortfall.  Sec. 1204d.  (1) The continuing education fund is created as a separate, self-supporting fund and shall be administered by the commissioner. Money in the continuing education fund shall be used for the administration of the continuing education requirements in section 1204c.  (2) Money received pursuant to section 1204c shall be deposited in the continuing education fund.  (3) Money in the continuing education fund shall not revert to the general fund at the close of the fiscal year but shall remain in the continuing education fund.   (4) Notwithstanding section 240(3), if money in the continuing education fund is not sufficient to provide for the administration of the continuing education requirements in section 1204c, the shortfall shall be funded from the agent's appointment fees required by section 240(1)(c). History: Add. 1992, Act 1, Eff. Jan. 1, 1993 Popular Name: Act 218
MI Comp L § 500.1204e (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-12 - Chapter 12 Agents, Solicitors, Adjusters, and Counselors (500.1200...500.1247)|Section 500.1204e - Nonresident License Applicant; Requirements.

500.1204e Nonresident license applicant; requirements. Sec. 1204e.  (1) The commissioner shall waive any requirements for a nonresident license applicant with a valid license from his or her home state, except the requirements under section 1206a, if the applicant's home state awards nonresident licenses to residents of this state on the same basis.  (2) A nonresident insurance producer's satisfaction of his or her home state's continuing education requirements for licensed insurance producers shall constitute satisfaction of this state's continuing education requirements if the nonresident producer's home state recognizes the satisfaction of its continuing education requirements imposed upon producers from this state on the same basis. History: Add. 2001, Act 228, Eff. Mar. 1, 2002 Popular Name: Act 218
MI Comp L § 500.1205 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-12 - Chapter 12 Agents, Solicitors, Adjusters, and Counselors (500.1200...500.1247)|Section 500.1205 - Resident Insurance Producer License; Filing; Application; Statement; Requirements; Business Entity; Verification of Information; Limited Line Credit Insurance.

500.1205 Resident insurance producer license; filing; application; statement; requirements; business entity; verification of information; limited line credit insurance.Sec. 1205.  (1) A person applying for a resident insurance producer license shall file with the director the uniform application required by the director and shall declare under penalty of refusal, suspension, or revocation of the license that the statements made in the application are true, correct, and complete to the best of the individual's knowledge and belief. The director shall not approve an application for a resident insurer producer license unless the director finds that the individual meets all of the following conditions:  (a) Is at least 18 years of age.  (b) Has not committed any act listed in section 1239(1).   (c) As required under section 1204(2), has completed a prelicensing course of study for the qualifications for which the person has applied.  (d) Has paid the fees applicable to the individual under section 240.  (e) Has successfully passed the examination required for each qualification for which the person has applied.  (2) A business entity acting as an insurance producer shall obtain an insurance producer license. A business entity applying for an insurance producer license shall file with the director the uniform business entity application required by the director. The director shall not approve an application for an insurance producer license under this subsection unless the director finds all of the following:  (a) The business entity has paid the fees under section 240(1)(d).  (b) The business entity has designated an individual licensed producer responsible for the business entity's compliance with this state's insurance laws, rules, and regulations.  (c) The business entity has not committed any act listed in section 1239(1).  (3) The director may require the production of any documents reasonably necessary to verify the information contained in an application.  (4) An insurer that sells, solicits, or negotiates any form of limited line credit insurance shall provide to each individual whose duties will include selling, soliciting, or negotiating limited line credit insurance a program of instruction that may be approved by the director. History: Add. 1972, Act 133, Eff. Mar. 30, 1973 ;-- Am. 2001, Act 228, Eff. Mar. 1, 2002 ;-- Am. 2008, Act 422, Imd. Eff. Jan. 6, 2009 ;-- Am. 2019, Act 124, Eff. May 21, 2020 Popular Name: Act 218
MI Comp L § 500.1206a (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-12 - Chapter 12 Agents, Solicitors, Adjusters, and Counselors (500.1200...500.1247)|Section 500.1206a - Nonresident Insurance Producer License; Requirements; Verification of Status; Change of Address; Nonresident Surplus Lines Insurance Producer License; Nonresident Limited Lines Insurance Producer.

500.1206a Nonresident insurance producer license; requirements; verification of status; change of address; nonresident surplus lines insurance producer license; nonresident limited lines insurance producer. Sec. 1206a.  (1) Unless denied licensure under section 1239, a nonresident person shall receive a nonresident insurance producer license if he or she meets all of the following:  (a) Is currently licensed as a resident and in good standing in his or her home state.  (b) Has submitted the proper request for licensure and has paid the applicable fees required by section 240.  (c) Has submitted or transmitted to the commissioner the application for licensure that the person submitted to his or her home state or a completed uniform application as required by the commissioner.  (d) The person's home state awards nonresident producer licenses to residents of this state on the same basis.  (2) The commissioner may verify the insurance producer's licensing status through the producer database maintained by the national association of insurance commissioners or its affiliates or subsidiaries.  (3) A nonresident insurance producer who moves from 1 state to another state or a resident insurance producer who moves from this state to another state shall file a change of address and provide certification from the new resident state within 30 days of the change of legal residence. No fee or license application is required.  (4) Notwithstanding any other provision of this chapter, a person licensed as a surplus lines insurance producer in his or her home state shall receive a nonresident surplus lines insurance producer license pursuant to subsection (1). Except as otherwise provided in subsection (1), this section does not otherwise amend or supersede any provision of chapter 19.  (5) Notwithstanding any other provision of this chapter, a person licensed as a limited line credit insurance or other type of limited lines insurance producer in his or her home state shall receive a nonresident limited lines insurance producer license, pursuant to subsection (1), granting the same scope of authority as granted under the license issued by the producer's home state. For the purposes of this subsection, limited lines insurance is any authority granted by the home state that restricts the authority of the license to less than the total authority prescribed in the associated major lines under section 1206(1)(a) to (f). History: Add. 2001, Act 228, Eff. Mar. 1, 2002 Popular Name: Act 218
MI Comp L § 500.1206b (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-12 - Chapter 12 Agents, Solicitors, Adjusters, and Counselors (500.1200...500.1247)|Section 500.1206b - Nonresident Insurance Producer License; Prelicensing Education or Examination; Exemption; Application as Resident Licensee.

500.1206b Nonresident insurance producer license; prelicensing education or examination; exemption; application as resident licensee. Sec. 1206b.  (1) An individual who applies for an insurance producer license in this state who was previously licensed for the same qualifications in another state is not required to complete any prelicensing education or examination. This exemption is only available if the person is currently licensed in that state or if the application is received within 90 days of the cancellation of the applicant's previous license and if the prior state issues a certification that, at the time of cancellation, the applicant was in good standing in that state or the state's producer database records, maintained by the national association of insurance commissioners, its affiliates, or its subsidiaries, indicate that the producer is or was licensed in good standing for the qualification requested.  (2) A person licensed as an insurance producer in another state who moves to this state shall apply within 90 days after establishing legal residence to become a resident licensee pursuant to section 1205. Prelicensing education or examination is not required of that person to obtain any qualification previously held in the prior state except where the commissioner determines otherwise by rule. History: Add. 2001, Act 228, Eff. Mar. 1, 2002 Popular Name: Act 218
MI Comp L § 500.1206c (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-12 - Chapter 12 Agents, Solicitors, Adjusters, and Counselors (500.1200...500.1247)|Section 500.1206c - Life and Health Insurance Producer Examinations; Summary of Statistical Information; Report.

500.1206c Life and health insurance producer examinations; summary of statistical information; report.Sec. 1206c.  By not later than 6 months after the effective date of this section and by April 30 of each year thereafter, the commissioner or a designee of the commissioner shall prepare and publish a report that summarizes statistical information relating to life and health insurance producer examinations administered during the preceding calendar year. The report shall include, but is not limited to, all of the following information:  (a) The total number of examinees.  (b) The percentage and number of examinees who passed the examination.  (c) The mean scaled scores on the examination.  (d) The standard deviation of scaled scores on the examination.  (e) The correct answer rate and correlation for each test question and each test form. History: Add. 2008, Act 494, Imd. Eff. Jan. 13, 2009
MI Comp L § 500.1208 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-12 - Chapter 12 Agents, Solicitors, Adjusters, and Counselors (500.1200...500.1247)|Section 500.1208 - Insurance Effected by Agent on Certain Risks; Limitation.

500.1208 Insurance effected by agent on certain risks; limitation. Sec. 1208.  An agent, during any 12-month period, may not effect insurance upon his own property, life or other risk and the property, life or other risk of his employees, employer or business associates, in excess of 15% of the total premium which he effected during that period. History: Add. 1972, Act 133, Eff. Mar. 30, 1973 Popular Name: Act 218
MI Comp L § 500.1208a (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-12 - Chapter 12 Agents, Solicitors, Adjusters, and Counselors (500.1200...500.1247)|Section 500.1208a - Appointment of Producer as Agent; Notice of Appointment; Filing; Verification of Eligibility; Fee.

500.1208a Appointment of producer as agent; notice of appointment; filing; verification of eligibility; fee.Sec. 1208a.  (1) An insurance producer shall not act as the agent of an insurer unless the insurance producer becomes an appointed agent of that insurer. An insurance producer who is not acting as an agent of the insurer is not required to become appointed.  (2) An insurance producer shall not bind coverage for an insurer unless the insurance producer is appointed by the insurer.  (3) To appoint a producer as its agent, the appointing insurer shall file, in a format approved by the director, a notice of appointment for the qualifications held by that insurance producer within 15 days from the date the agency contract is executed or the first insurance application is submitted. An insurer may also elect to appoint an insurance producer to all or some insurers within the insurer's holding company system or group by the filing of a single appointment request.  (4) On receipt of the notice of appointment, the director shall verify within a reasonable time not to exceed 30 days that the insurance producer is eligible for appointment. If the insurance producer is determined to be ineligible for appointment, the director shall notify the insurer within 5 days of that determination.  (5) An insurer shall pay an appointment fee and a renewal appointment fee as provided under section 240(1)(c) for each insurance producer appointed or renewed by the insurer. History: Add. 2001, Act 228, Eff. Mar. 1, 2002 ;-- Am. 2018, Act 449, Imd. Eff. Dec. 21, 2018 Popular Name: Act 218
MI Comp L § 500.1210 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-12 - Chapter 12 Agents, Solicitors, Adjusters, and Counselors (500.1200...500.1247)|Section 500.1210 - Accident and Health Insurance Agent as Health Benefit Agent.

500.1210 Accident and health insurance agent as health benefit agent. Sec. 1210.  An accident and health insurance agent who is a health benefit agent pursuant to the health benefit agent act shall be subject to the health benefit agent act when selling health benefits. As used in this section, "health benefits" and "health benefit agent" means those terms as defined in the health benefit agent act. History: Add. 1986, Act 253, Eff. Mar. 31, 1987 Popular Name: Act 218
MI Comp L § 500.1211 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-12 - Chapter 12 Agents, Solicitors, Adjusters, and Counselors (500.1200...500.1247)|Section 500.1211 - Solicitation and Collection on Behalf of Licensed Insurance Producer; Authorization; Contract; Agent of the Insured; Agent of the Insurer.

500.1211 Solicitation and collection on behalf of licensed insurance producer; authorization; contract; agent of the insured; agent of the insurer.Sec. 1211.  (1) A natural person may solicit applications for insurance and collect premiums on behalf of a licensed insurance producer resident in this state if he or she is so authorized to act by a written contract with the insurance producer, and the contract specifies the extent of his or her authority to act, he or she is licensed to act as a solicitor in accordance with this chapter, and the insurance producer has notified the director of the contract.  (2) An agent of the insured may obtain coverage for a consumer through an agent of the insurer if all of the following apply:  (a) The agent of the insured is licensed to act as an insurance producer in accordance with this chapter.  (b) The agent of the insured has a relationship with the agent of the insurer under a written contract. The written contract under this subdivision must specify the extent of the agent of the insured's authority to act and require the maintenance of an amount of professional liability insurance, commonly known as errors and omissions insurance.  (c) The coverage being obtained is not a health insurance policy or a health maintenance contract. History: Add. 2001, Act 228, Eff. Mar. 1, 2002 ;-- Am. 2018, Act 449, Imd. Eff. Dec. 21, 2018 Popular Name: Act 218
MI Comp L § 500.1211a (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-12 - Chapter 12 Agents, Solicitors, Adjusters, and Counselors (500.1200...500.1247)|Section 500.1211a - Assumed Name; Use.

500.1211a Assumed name; use. Sec. 1211a.  An insurance producer doing business under any name other than the producer's legal name shall notify the commissioner prior to using the assumed name. History: Add. 2001, Act 228, Eff. Mar. 1, 2002 Popular Name: Act 218
MI Comp L § 500.1211b (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-12 - Chapter 12 Agents, Solicitors, Adjusters, and Counselors (500.1200...500.1247)|Section 500.1211b - Temporary License.

500.1211b Temporary license. Sec. 1211b.  (1) The commissioner may issue a temporary insurance producer license for a period not to exceed 180 days without requiring an examination if the commissioner considers that the temporary license is necessary for the servicing of an insurance business in the following cases:  (a) To the surviving spouse or court-appointed personal representative of a licensed insurance producer who dies or becomes mentally or physically disabled to allow adequate time for the sale of the insurance business owned by the producer or for the recovery or return of the producer to the business or to provide for the training and licensing of new personnel to operate the producer's business.  (b) To a member or employee of a business entity licensed as an insurance producer, upon the death or disability of an individual designated in the business entity application or the license.  (c) To the designee of a licensed insurance producer entering active service in the armed forces of the United States of America.  (d) In any other circumstance where the commissioner considers that the public interest will best be served by the issuance of this license.  (2) The commissioner may by order limit the authority of any temporary licensee if he or she considers it necessary to protect insureds and the public. The commissioner may require the temporary licensee to have a suitable sponsor who is a licensed producer or insurer and who assumes responsibility for all acts of the temporary licensee and may impose other similar requirements designed to protect insureds and the public. The commissioner may by order revoke a temporary license if the interest of insureds or the public is endangered. A temporary license may not continue after the owner or the personal representative disposes of the business. History: Add. 2001, Act 228, Eff. Mar. 1, 2002 Popular Name: Act 218
MI Comp L § 500.1212 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-12 - Chapter 12 Agents, Solicitors, Adjusters, and Counselors (500.1200...500.1247)|Section 500.1212 - Persons Acting as Solicitors; Contract With Agent; License; Notice of Appointment.

500.1212 Persons acting as solicitors; contract with agent; license; notice of appointment. Sec. 1212.  (1) An agent may not appoint, employ or in any manner receive the benefit of business done or services rendered in this state by a person acting as a solicitor unless that person is so authorized to act by a written contract with the agent, he is licensed as a solicitor in accordance with this chapter, and the agent has notified the commissioner in writing of the appointment.  (2) A person who is licensed as a solicitor, within the lines of insurance permitted by the license, may act on behalf of a licensed agent if the agent has properly notified the commissioner of the appointment of that person as his solicitor.  History: Add. 1972, Act 133, Eff. Mar. 30, 1973 Popular Name: Act 218
MI Comp L § 500.1216 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-12 - Chapter 12 Agents, Solicitors, Adjusters, and Counselors (500.1200...500.1247)|Section 500.1216 - Solicitor as Fiduciary; Accounting Methods; Examination of Records; Remuneration of Person Acting as Agent or Solicitor.

500.1216 Solicitor as fiduciary; accounting methods; examination of records; remuneration of person acting as agent or solicitor.  Sec. 1216.  (1) A solicitor shall be a fiduciary for all moneys received or held by him in his capacity as a solicitor. Failure by a solicitor in a timely manner to turn over the moneys which he holds in a fiduciary capacity to the persons to whom they are owed is prima facie evidence of violation of the solicitor's fiduciary responsibility.  (2) A solicitor shall use reasonable accounting methods to record funds received in his fiduciary capacity. The records required by this section shall be open to examination by the commissioner.  (3) A solicitor shall not reward or remunerate a person for procuring or inducing business in this state, furnishing leads or prospects or acting in any other manner as an agent or solicitor. History: Add. 1972, Act 133, Eff. Mar. 30, 1973 Popular Name: Act 218